Magenta, Euler Motors Join Hands; To Deploy Over 1,000 HiLoad Electric Cargo Vehicles

Electric mobility solutions firm Magenta has deployed over 100 electric cargo vehicles under its EVET brand in Bengaluru, in partnership with Euler Motors, with plans to deploy 1,000 more in the coming months. Magenta, which launched its e-mobility platform under the EVET (Electric Vehicle Enabled Transport) brand earlier this year, aims to deploy and operate over 2,400 electric vehicles (EV) in its fleet in Bengaluru, Hyderabad, Mumbai, and Chennai by the end of 2022. At present, Magenta is operating over 400 electric cargo transport services under the EVET umbrella, and the new additions would consist of mid-mile and last-mile delivery servicing for e-commerce, food delivery, pharmaceuticals, and other logistics clients. 

Also Read: Magenta Introduces Connected Fleet Management System For Its EV Logistics Services

Darryl Dias, Co-founder & Director, Magenta said, “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.”

Magenta aims to deploy 1,000 Euler HiLoad electric three-wheeler cargo in Bengaluru in the coming months. 

While Euler Motors will cater to vehicle deliveries and service support, EVET via its full-stack technology and ecosystem, will oversee customer deployments & servicing last-mile transportation. The cities targeted for the deployments include Hyderabad, Chennai, and Bengaluru amongst others.

Also Read: Euler Motors Launch New HiLoad Electric 3-Wheeler In India; Prices Start At ₹ 3.5 Lakh

Saurav Kumar, Founder, and CEO, Euler Motors, said, “This partnership is a testimony of 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.”

Under its eFaas (electric Fleet as a service) operating model, EVET currently offers a wide-ranging end-to-end solution that includes electric vehicles bundled with EV charging, parking hubs, and full-stack software technology for managing, monitoring, and monetizing assets. EVET has witnessed 10x growth since its launch in the Bengaluru market in FY22. By 2025, the company plans to travel 1.5 million km per month with its electric fleet.