Euler Motors Shifts Gears with Doubling Revenue Amid Rising Losses

Euler Motors reported a net loss of Rs 308 crore for FY26, despite revenue doubling to Rs 402 crore, driven by increased demand from logistics and e-commerce. The company sold 7,576 EVs, up from 4,172 in FY25, marking a shift towards scaling operations and improving underlying business efficiency.

Electric commercial vehicle startup Euler Motors has reported a widening of its net loss to Rs 308 crore for FY26, despite impressive revenue figures reflecting strong market demand. Revenue from operations more than doubled to Rs 402 crore, illustrating the burgeoning demand from logistics and e-commerce sectors.

The ongoing demand potently contributed to the company's growth, with total sales climbing to 7,576 EVs in FY26 from 4,172 units in the previous fiscal year, signaling success in scaling operations. Euler Motors achieved consistent quarter-on-quarter growth, marked by a 38 percent average sequential volume increase and a 43 percent boost in revenue.

CEO Saurav Kumar remarked on the company's significant transitional phase from early adoption to scaling, emphasizing improved EBITDA margins and underlying business efficiency, despite losses. The company is poised for further expansion, notably entering the 3W passenger EV segment.