Euler Motors, Magenta tie-up to deploy 1000 HiLoad e-3W cargo vehicles across India
Euler Motors has announced it has partnered with Magenta to deploy 1000 HiLoad EVs, three-wheeler cargo vehicles.
Magenta, which specializes in building solutions that facilitate their clients to achieve sustainability goals, will deploy these EVs in Bangalore followed by other regions over the next 12 months.
The new HiLoad deployments will constitute multiple segments and customer applications including e-commerce, food delivery, pharma, and other last-mile logistics clients, it said in a press announcement.
Under EVET, Magenta is already operating over 400+ electric cargo transport services using the electric mobility platform. While Euler Motors will cater to vehicle deliveries and service support via its full-stack ecosystem, Magenta will oversee customer deployments and also support credit access for EV financing for drivers. The key cities targeted for the deployments include Hyderabad, Chennai, and Bangalore amongst others.
Saurav Kumar, Founder, and CEO, Euler Motors, said, "Magenta and Euler Motors are well-aligned with each other, both founded on a premise to create a clean energy ecosystem in India with segment-first innovation and solutions; we're happy to be partnering with Magenta to deploy our highly powered HiLoad EVs for sustainable transportation. This partnership is a testimony to our thriving vision, and of HiLoad's unique value proposition which sets it apart in the industry. With the growing customer confidence, we intend to make our EVs more accessible and strengthen our presence in new markets and delivery hubs of southern India.
"Magenta's mission has always been to enable clean mobility. We are thrilled to be adding an environmentally friendly electric fleet to address the ever-increasing need for last-mile logistics and transportation. Our strong intention is to assist e-commerce and logistics enterprises in scaling up while keeping their sustainability and cost-effectiveness goals in mind" said Darryl Dias, Co-founder & Director Magenta.
Euler Motors has already commenced deliveries for Magenta, with the first batch of 20 HiLoad EVs to be delivered this week, it said in the statement.
