EV maker Euler Motors is carving out a niche for itself in electric commercial vehicles by investing heavily in what it considers its most important differentiator, its battery technology.
25 Mar 2025 | 1695 Views | By Shahkar Abidi
For Euler Motors, a nascent player in India’s burgeoning electric vehicle (EV) market, the road to electrifying the nation’s commercial fleet runs directly through its research and development lab. Tucked away in their Delhi headquarters, a team of 150 engineers and scientists, representing a significant 15 to 20% chunk of ...
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For Euler Motors, a nascent player in India’s burgeoning electric vehicle (EV) market, the road to electrifying the nation’s commercial fleet runs directly through its research and development lab. Tucked away in their Delhi headquarters, a team of 150 engineers and scientists, representing a significant 15 to 20% chunk of the company’s annual budget, are meticulously dissecting and refining the very core of their electric vehicles: the battery.
Poorvak Kapoor, Vice President of Technology at Euler Motors, speaks about this strategic emphasis: "That announces the direction of how heavy we have been on the R&D side of it," he says. His attitude betrays the conviction that in the fiercely competitive EV landscape, technological prowess, particularly in battery technology, is not merely an advantage but a requisite.
He points out that the R&D efforts are absolutely essential to delivering the products the company wants to offer with the features it wants to include at the prices that will work in the market. Indeed, in the global race to electrify transportation, batteries have emerged as the fundamental piece.
Today, they are the most expensive component in an EV, directly impacting range, performance, and ultimately, the vehicle's appeal to cost-conscious commercial operators. While India’s automotive sector boasts established expertise in vehicle dynamics – the mechanics of movement and handling – Euler Motors identified a gap, and an opportunity.
Back in 2018, as the EV sector was just beginning to take off in India, Euler’s leadership team pinpointed battery technology and advanced vehicle electronics, including the complex thermal management and control systems that keep batteries operating optimally, as critical domains for in-house development.
“This is why we made it our priority to develop inhouse expertise in battery technology and advanced vehicle electronics,” Kapoor explained. This wasn't a dismissal of other vital vehicle aspects, but a calculated bet that mastering battery technology would be their unique selling proposition.
They began their journey with cylindrical cells, a common format, initially deploying their electric three-wheelers – often termed ‘L3 vehicles’ in industry parlance – with business clients. Their first 40 vehicles, born from garage prototypes, diligently clocked 10,000 to 20,000 kilometres each, serving as real-world proving grounds.
Crucially, Euler adopted a data-driven approach from day one. Each vehicle was equipped with deeply integrated telemetric solutions – sophisticated onboard systems that go beyond off-the-shelf options to provide granular data every one to two seconds. This constant stream of real-time information allowed them to meticulously monitor field performance.
This relentless focus on inhouse R&D operates within a lean organisational structure. Kapoor emphasises that their 150-strong R&D team is intentionally streamlined. “From an automotive perspective, we are still a young company. Hence, we needed to maintain a streamlined structure while maximising output.”
The R&D division is segmented into specialised sub-departments, fostering focused expertise. While the majority of their team, roughly 90%, is based at their Delhi headquarters – the primary R&D hub; the software team adopts a distributed model, with members in Bengaluru and Mumbai, reflecting the diverse talent pools in India's tech centres.
The company recently ventured into the electric four-wheeler SCV segment with the StormEV, and launched their inaugural product, the HiLoad EV electric three-wheeler in 2021, positioning itself for significant growth. To materialise the ambitions, Euler Motors has been actively raising capital.
It has raised over $82 million from leading investors, including Singapore's GIC and Blume Ventures. In FY24, Euler Motors sold 3,700 vehicles, and by FY25, it aims to expand its presence from 26 to 40 cities across India. The company's products are rolled out from a 5 lakh sq. ft. R&D and manufacturing facility in the industrial hub of Palwal in Haryana, which has an annual production capacity of 36,000 vehicles.