Electric commercial vehicle maker Euler offers 688-kh capacity e-cargo three-wheeler, HiLoad in the market.
Under its eFaas (electric fleet as a service) operating model, EVET offers a comprehensive end-to-end solution, Magenta said in a statement.
The partnership has already deployed 100 EVET e-cargo three-wheelers in Bengaluru. The fleet is meant for mid-mile and last-mile delivery, servicing e-commerce, food delivery, pharma and other last-mile logistics clients, it said.
While Euler will cater to vehicle deliveries and service support, EVET via its full stack technology and ecosystem, will oversee customer deployments and servicing last mile transportation, it said, adding the key cities targeted for the deployments include Hyderabad, Chennai, Bengaluru, among others.
Magenta said under EVET, it is already operating over 400 electric cargo transport services, using the electric mobility platform. The company had earlier this year announced its aim to deploy and operate over 2400 EVs in its fleet in Bengaluru, Hyderabad, Mumbai and Chennai in 2022.
According to the company, EVET has witnessed 10x growth since launch in the Bengaluru market in the previous fiscal year.
“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,” said Saurav Kumar, Founder and CEO, Euler Motors.
Seed funded by HPCL in 2018, Magenta is also backed by the Microsoft Startup Program further to strengthen its advanced technology platform for e-mobility.
