In the upcoming 18 months, as the partnership intensifies, Euler Motors and Magenta Mobility intend to increase their footprint in other cities. While Magenta Mobility plans to launch in 40 cities to reach a wider audience and attract a larger clientele, Euler Motors hopes to grow its monthly production capacity from 500 to 1500 automobiles.
New, Delhi: In a move that will benefit electric commercial vehicles in India, Euler Motors and Magenta Mobility have agreed to buy 2000 HiLoad EVs for INR 100 crore.
For INR 5 lakh each, Magenta Mobility will purchase 2000 HiLoad EVs from Euler. Their current alliance, which has already resulted in transactions of INR 25 crore for 500 vehicles, is being strengthened by this partnership. In the upcoming 18 months, as the partnership intensifies, Euler Motors and Magenta Mobility intend to increase their footprint in other cities. To expand its customer base and geographic reach, Magenta Mobility plans to launch in 40 locations, while Euler Motors plans to raise its monthly production capacity from 500 to 1500 vehicles.
During the conversation, Saurav Kumar emphasized their dedication to speeding the adoption of electric cars for last-mile logistics and expressed excitement about the partnership’s expansion over the last two years. In addition to delivering cars, the cooperation aims to establish an ecosystem that includes charging stations and commercial alliances.
In line with Saurav’s observations, Maxson Lewis emphasized the role ecosystems play in the shift from combustion engines to electric vehicles. He emphasized that the collaboration is more than just a romantic relationship, referring to it as a strategic alignment that will bring out the best in each business.
The leaders talked about how well they have been deploying cars for the past few years and that they are confident about scaling up to 2000 vehicles.
When asked how the interim budget will affect the infrastructure for EV charging, Lewis emphasized the move in the right direction to support the entire ecosystem. He expressed his appreciation for the budget’s wider emphasis on charging infrastructure, saying that it is an essential component of a smooth transition to e-mobility.
Both businesses anticipate emerging trends in the automobile and last-mile logistics industries going forward. As the industry finds the correct pricing points and consumer groups, Kumar expected a shift towards larger vehicles. He also emphasized the electrification of smaller vehicles, such as four-wheeler cargo. Lewis continued by saying that discussions about logistics have changed as a result of the inclusion of e-vehicles in the business models of a wider range of consumer groups, such as FMCG firms.
Regarding our intentions for the future, Saurav Kumar stated, “We are focused on increasing the presence in more cities and ramping up production capacity, aiming for a substantial production increase within the year.”
Lewis stated, “Magenta Mobility‘s three-pronged approach includes growing into new cities, bringing on new customers and use cases, and improving the product’s form factor. It is anticipated that the infrastructure for fast charging will be essential to increasing vehicle usage.