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Commercial electric vehicle manufacturer Euler Motors on Tuesday announced its entry into the small commercial vehicle segment with plans to roll out the first four-wheeler with over 1,000 kg payload during the upcoming festive season.

The company said its new SCV will be designed to meet the growing demand for cost-effective, and high-performance inter- and intra-city transportation solutions.

Currently, an established player in the electric three-wheeler space, Euler Motors also said its maiden four-wheeler will offer a long driving range, high payload capacity and enhanced real-time fleet management.

“Euler Motors has announced its entry into the small commercial vehicle (SCV) segment, with its first 4-wheeler that will offer 1000+ kgs payload,” the company said in a statement.

“Commercial electric vehicles must cater to the needs of various industries, accommodating diverse volumes, payloads, and ranges. Our vision is to develop vehicles that seamlessly integrate into all industry verticals,” said Saurav Kumar, Founder and CEO of Euler Motors.

The SCV segment, which is pegged at Rs 34,900 crore in market value by FY27 in the country, is dominated by internal combustion engine-powered vehicles, Euler Motors said, adding that while electric vehicles may comprise a smaller share, they are poised to grow the fastest.

With EVs, customers can expect significant cost savings and achieve price parity with traditional fuel vehicles, making them a compelling choice for businesses aiming to improve their operational efficiency and sustainability, it said.