Euler Motors Captures 25% Share in 4W E-CV Segment

Euler Motors reached a market share of approximately 25% in India's four-wheeler electric cargo light commercial vehicle (4W LCV) segment over the past year, positioning itself as the second-largest player in the category behind Tata Motors. The company's volume growth coincided with an increase in overall electric adoption within the 4W cargo category, where electric penetration rose from nearly 1% to about 5% over the twelve-month period.

The manufacturer reported cumulative sales of around 6,500 units across its two four-wheeler product lines, the Euler Storm EV and the Turbo EV 1000, with monthly dispatch volumes scaling from approximately 50 units in early 2025 to nearly 1,000 units by September 2026. Growth in the segment has been supported by product pricing achieving near parity with comparable diesel light commercial trucks.

Euler Motors Market Share in Delhi, Maharashtra and Rajasthan

While Delhi remains a key primary market with Euler holding nearly 50% of the local electric 4W cargo space, regional dispatches have increasingly shifted toward secondary markets. The company reported a market share of about 25% in Maharashtra, where regional category penetration reached 8.7%, and roughly 32% in Rajasthan, where segment penetration crossed 11%.

Euler CEO Saurav Kumar on the Diesel-to-Electric Shift in 4W Cargo

Saurav Kumar, Founder and CEO, Euler Motors, said, "The four-wheeler cargo segment ran on diesel for years, not because operators wanted it, but because no electric vehicle matched it on the right combination of performance and affordability. We spent four years on this, the first two in research, development and validation before we put a vehicle on the road, because we wanted to get the product right rather than first. The segment has since moved from nearly 1 percent electric to 5 percent, and the operators who come back for a second and third vehicle are the proof."