Fyn, a vertically integrated EV as a service platform has announced a strategic partnership with Euler Motors to procure 2,000 fast-charging electric three-wheelers.
Through this alliance, Euler Motors says it will empower Fyn to establish the country’s largest fast-charging electric three-wheeler fleet for meeting the burgeoning B2B sector needs. The EV maker will supply the Euler HiLoad EV.
Fyn has secured financing of this deal from Petronas-backed Gentari, a leading player in green mobility solutions, which aims to establish Vehicle as a service fleet in India, Malaysia and APAC to drive sustainable mobility switch and adoption. The company aims to have 10 percent market share of charging points and EVaaS across key markets in APAC including India.
Euler Motors says it will deliver the 2,000 Euler HiLoad EVs over the next 18 months.
Visakh Sasikumar, Founder & CEO, Fyn said, “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.”
The Euler Hiload EV will be deployed in India, including Mumbai, Delhi, and Coimbatore. With features like a 12.96 kWh battery pack with patented liquid cooling technology, highest load capacity of 688 kgs in the sub-one tonne vehicle category and torque of 88.55 Nm for best-in-class pulling power the HiLoad EV, boast of better performance, extended battery life, reduced total cost of ownership and less down time which improves profitability for users.
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 2,000 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.”
At present, Fyn is claimed to be growing 20 percent month-on-month, boasting an active fleet of over 500 EVs. It is presently operating in Chennai, Hyderabad, and Bangalore. The company aims to expand its footprint to Mumbai, Delhi, and Coimbatore within the next 18–24 months. The collaboration will play a key role in enabling Fyn to achieve its ambitious goal of establishing a 5,000-strong EV fleet by 2024.
