Fyn, India’s groundbreaking vertically integrated Electric Vehicle (EV) as a service platform, has forged a significant strategic alliance with Euler Motors to acquire a fleet of 2000 fast-charging 3-wheeler EVs. This collaboration positions Euler Motors as the driving force behind Fyn’s ambitious endeavor to establish the nation’s most extensive 3-wheeler fast-charging EV fleet, with a primary focus on catering to the thriving B2B sector. The flagship product in this endeavor is the Euler HiLoad EV.
To facilitate this monumental partnership, Fyn has secured financing from Gentari, a Petronas-backed global leader in sustainable mobility solutions. Gentari’s vision extends beyond this deal, aiming to establish Vehicle as a Service (EVaaS) fleets across India, Malaysia, and the broader Asia-Pacific (APAC) region, thereby promoting the adoption of sustainable mobility solutions. The company aspires to capture a 10% market share in charging points and EVaaS across key APAC markets, including India.
To meet the surging demand within the logistics sector, Fyn is leveraging its innovative platform to bring together all stakeholders in the EV ecosystem, propelling India towards a future defined by sustainable and environmentally friendly mobility solutions. Euler Motors is poised to deliver the 2000 Euler HiLoad EVs over the next 18 months, executing a strategic phased approach that promises to revolutionize the commercial EV segment. Together, Euler Motors and Fyn are pioneers in driving the transition towards eco-conscious mobility solutions, marking a significant step forward for the Indian transportation industry.
Visakh Sasikumar, Founder CEO, Fyn, says, “Our goal is to empower our customers to extract the maximum potential from their deployed EVs. To achieve this goal, we have leveraged our deep understanding of the EV landscape in India as we have been ahead of curve on many levels. Fast charging is truly a game changer. To have a vehicle ready for quick redeployment through fast charging, has helped logistics companies achieve their business goals in a more capital-efficient manner. Our partnership with Euler is a significant step towards building a mass electric ecosystem, transforming intra city transportation and creating much-needed value for India.”
Euler Motors’ formidable 3-wheeler Light Commercial Vehicle (LCV), the Euler HiLoad EV, is set to drive Fyn’s strategic expansion into untapped geographical markets across India, including major cities like Mumbai, Delhi, and Coimbatore. This partnership capitalizes on the HiLoad EV’s cutting-edge features, which include a 12.96 kWh battery pack equipped with patented liquid cooling technology. These innovations contribute to its impressive load capacity of 688 kgs, positioning it as the leader in the sub-one tonne vehicle category. With a torque of 88.55 Nm, it boasts unmatched pulling power, ensuring top-notch performance.
The HiLoad EV’s attributes translate into a host of advantages for users, including extended battery life, reduced total cost of ownership, and minimized downtime. These benefits directly enhance profitability, making it an appealing choice for businesses in the logistics and transport sectors. The introduction of the HiLoad EV into Fyn’s fleet underscores a commitment to performance, efficiency, and eco-friendly mobility solutions.
Commenting on this partnership, Saurav Kumar, Founder and CEO, Euler Motors said, Our association with Fyn gives us an opportunity to not just expand our market reach across India, but also allows us to address critical aspects of EV ownership, fast charging infra and operational excellence. We are looking to deploy 2000 Euler HiLoad EVs with Fyn over the next 18 months. This alliance is driven by our unwavering commitment for EV adoption in the Indian commercial segment. Together, Euler and Fyn aim to be the catalysts of technological progress, revolutionizing mobility, and co-creating a sustainable future where innovation meets sustainability.”
Fyn’s collaboration with Euler Motors represents a significant milestone in its mission to expand its presence and make a nationwide impact. The company has been experiencing remarkable growth, with a month-on-month increase of 20%, bolstered by an active fleet of over 500 Electric Vehicles (EVs). Currently operational in Chennai, Hyderabad, and Bangalore, Fyn is set to extend its reach to key cities such as Mumbai, Delhi, and Coimbatore over the next 18 to 24 months.
This strategic alliance with Euler Motors is poised to be a linchpin in helping Fyn realize its ambitious goal of establishing a robust 5000-strong EV fleet by 2024. With Euler’s support and expertise, Fyn is primed to accelerate its growth trajectory and solidify its position as a leader in the Indian EV market.