The StormEV boasts a payload capacity of approximately 1,250 kilograms and is available in three different variants.
Electric commercial vehicle manufacturer Euler Motors has officially entered the four-wheel small commercial vehicle segment with the launch of its first offering, the “StormEV.” Unveiled today in Delhi, this significant milestone marks the company’s expansion into a market poised for substantial electrification in the coming years.
Priced competitively, the StormEV comes with an introductory price range of ₹8.99 lakh to ₹12.99 lakh, making it an accessible option for businesses seeking sustainable transportation solutions. The vehicle boasts an impressive payload capacity of approximately 1,250 kilograms and is available in three distinct variants to cater to diverse operational needs.
The long-range variant of the StormEV is equipped with a robust 30 kWh battery, delivering a real-world driving range of up to 200 kilometers on a single charge. This makes it ideal for businesses that require longer routes without frequent recharging. The other two variants feature a 19 kWh battery, offering a substantial range of around 140 kilometres, providing flexibility based on specific requirements.
At the launch event, Saurav Kumar, Founder and Chief Executive Officer of Euler Motors, revealed that the company invested around ₹100 crore in the development of the StormEV. This significant investment underscores Euler Motors’ commitment to innovation and confidence in the future of electric mobility within the commercial vehicle sector.
With the introduction of StormEV, Euler Motors is set to compete directly with established industry giants like Tata Motors and Switch Mobility, a subsidiary of Ashok Leyland, in the electric light commercial vehicle market. This move positions the company as a formidable contender in a segment traditionally dominated by long-standing automotive leaders.
Industry estimates indicate that in the fiscal year 2024, approximately 500,000 light commercial vehicles—goods carriers under 7 tons—were sold. Of these, electric vehicle (EV) sales accounted for nearly 4,000 units, highlighting the nascent yet growing trend toward electrification in the commercial vehicle space.
Electric vehicles are increasingly viewed as more sustainable solutions within the small commercial vehicle segment. The push toward greener transportation is driven by the need to reduce carbon emissions and the recognition of the lower total cost of ownership that electric vehicles offer. Additionally, many companies are making net-zero commitments, and there is growing investment in advanced products that meet evolving customer requirements.
The demand for clean last-mile and mid-mile delivery solutions is expected to further drive electrification among goods carriers. Businesses are seeking efficient and environmentally friendly options to meet consumer demands, and electric vehicles like the StormEV provide a viable solution.
Euler Motors’ journey into electric mobility began in 2021 with the launch of the HiLoad EV, an electric three-wheeler commercial vehicle. Since then, the company has sold over 6,000 vehicles and expanded its operations to 31 cities across India. This success has laid a strong foundation for the company’s entry into the four-wheel segment.
Based in Haryana, Euler Motors operates a state-of-the-art manufacturing facility in Palwal, representing an investment of ₹100 crore. The facility has the capacity to produce up to 36,000 units annually, positioning the company to meet increasing demand and scale its production effectively.
Looking ahead, the small commercial vehicle (SCV) segment in India is projected to reach a market value of approximately ₹34,900 crore by the fiscal year 2027. While internal combustion engine (ICE) vehicles currently dominate the market, the landscape is set to change as electric vehicles gain traction due to environmental concerns and technological advancements.
Euler Motors’ entry into the four-wheel small commercial vehicle market with the StormEV signifies not just an expansion of their product line but also a step forward in India’s journey toward sustainable transportation. The company is poised to make a significant impact, offering innovative solutions that align with the growing demand for electric mobility in the commercial sector.
