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Magenta And Euler Motors Partner To Deploy 1,000 Electric Cargo Vehicles In Core Cities

TNI || New Delhi || 12th April 2022

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In the coming months, EV solutions provider Magenta, in collaboration with Euler Motors, plans to deploy 1,000 e-cargo three-wheelers in cities such as Bengaluru, Hyderabad, and Chennai.

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Magenta owns the EVET brand of electric vehicles, in addition to offering charging infrastructure for EVs across the country.

Euler, an electric commercial vehicle manufacturer, provides the HiLoad, a 688-kH capacity e-cargo three-wheeler on the market. According to Magenta, EVET’s eFaas (electric fleet as a service) operating architecture provides a comprehensive end-to-end solution.

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In Bengaluru, the alliance has already delivered 100 EVET e-cargo three-wheelers.

As per the company, the fleet is designed for mid-and last-mile delivery and will serve e-commerce, food delivery, pharma, and other last-mile logistics clients.

While Euler will handle vehicle deliveries and service support, EVET will manage client deployments and last-mile transportation via its full stack technology and ecosystem. 

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The major locations targeted for the implementation include Hyderabad, Chennai, and Bengaluru, among others.

A company called Magenta says it has run about 400 electric cargo transport services under the EVET program, using the electric mobility platform.

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Earlier this year, the company stated that by 2022, it plans to have over 2400 electric vehicles in its network in Bengaluru, Hyderabad, Mumbai, and Chennai.

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EVET has grown 10 times since its start in the Bengaluru market the previous fiscal year.

They plan to make the EVs more accessible and develop their presence in the emerging markets and delivery hubs in southern India, stated the founder and CEO of Euler Motors, Saurav Kumar. 

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Magenta got seed money from HPCL in 2018 and is now getting help from Microsoft’s Startup Program to make its e-mobility technology even better.