Euler Motors has emerged as the second-largest electric vehicle player in India’s four-wheeler light commercial vehicle (4W LCV) cargo segment, with its market share increasing to nearly 25% from less than 2% over the past year.
The electric commercial vehicle manufacturer said the growth has been driven by its two four-wheeler products, the Storm EV and Turbo EV 1000. During the period, Euler sold around 6,500 vehicles, increasing its monthly sales from approximately 50 units in early 2025 to nearly 1,000 units by September 2026.
Electric penetration in India’s 4W cargo segment has also increased from around 1% to approximately 5% during the period. According to Euler, the adoption has been supported by electric commercial vehicles achieving closer price parity with comparable diesel vehicles while offering lower running costs.
The Storm EV, which features advanced driver assistance systems (ADAS), and the one-tonne Turbo EV 1000 have expanded Euler’s presence across commercial cargo applications.
Delhi remains Euler’s strongest market, where the company holds nearly 50% of the electric four-wheeler cargo segment. Its market share has also reached approximately 25% in Maharashtra, where electric penetration in the category stands at 8.7%, and around 32% in Rajasthan, where penetration has crossed 11%.
The company said growth is increasingly coming from Tier 2 and Tier 3 cities. Key markets include Sikar in Rajasthan; Solapur, Satara and Sangli in Maharashtra; and Tiruppur, Salem and Tiruchirappalli in Tamil Nadu.
In Sikar, Euler said its dealer reached monthly sales of 40 vehicles within three months of opening, with demand coming from dairy and milk businesses, gas cylinder distribution, FMCG and water fleets.
Saurav Kumar, Founder and CEO of Euler Motors, said the company spent four years developing its four-wheeler electric commercial vehicle portfolio, including two years focused on research, development and validation before launching its products.
Euler has also expanded its manufacturing capacity to meet growing demand. Its four-wheeler manufacturing facility in Palwal, Haryana, backed by an investment of ₹100 crore, has an annual production capacity of up to 24,000 vehicles.
The company has additionally established a new research and development facility and is evaluating the development of another manufacturing facility. Euler expects electric vehicle penetration in the 4W cargo segment to reach 15–20% in the near term.
