Euler Motors expects to ramp up monthly production to 1,000 units
October 10, 2022
Indian electric three-wheeler maker, Euler Motors' aims to boost production to 1,000 units a month from 100 after its new plant in the outskirts of New Delhi starts operations in the current quarter, its chief executive said recently.
The company is expecting its order book to swell to 15,000 units by the end of FY23 from over 9,000 currently, buoyed by strong demand.
Euler, which counts Flipkart and BigBasket among its customers, recently raised $60 million in a funding round led by GIC Singapore.
The Indian Government is also offering companies billions of dollars as incentives to locally manufacture EVs and their parts.