Euler Motors has announced a financing partnership with Annapurna Finance Pvt. Ltd., adding the non-banking financial company to its network of over 15 financing partners. The collaboration is aimed at improving access to loans for buyers of Euler Motors' electric commercial vehicles, covering both three-wheelers and four-wheelers.
The partnership is directed particularly at customer segments in semi-urban and rural areas that have limited access to formal credit. Annapurna Finance will offer customised financing solutions for Euler Motors' EV portfolio, with the stated goal of improving affordability for fleet operators, gig economy workers, and micro-entrepreneurs looking to purchase electric cargo vehicles.
Rohit Gattani, VP of Growth and Vehicle Financing at Euler Motors, said the partnership was intended to reach operators "who have the intent to transition but remain outside traditional lending ecosystems," describing the collaboration as enabling "real participation in the EV economy." Asish Mishra, Head of Product at Annapurna Finance, said the tie-up represented "a meaningful step towards building both financial inclusion and clean mobility at scale," citing Euler Motors' product engineering and vehicle uptime as factors underpinning the lender's confidence in the asset.
Euler Motors, founded in 2018 and headquartered in Delhi, manufactures electric commercial vehicles focused on cargo delivery. The company says it supports its financing partners with data on vehicle performance and asset reliability to assist in risk assessment.