Electronics Era: How have the trends in the Indian automotive industry evolved over the past two years, in your opinion? What positive changes are noticeable in the market? Additionally, what strategies do you believe are necessary to compete effectively in the global automotive market?
Vani Rikhy Mehra: The Indian automotive industry has witnessed a significant transformation over the last few years with the growing prominence of electric vehicles (EVs), advancements in connected technology, and a heightened focus on enhancing customer experience. There has been a notable shift in customer preferences towards sustainable and technologically advanced mobility solutions, and an increasing demand for electric commercial vehicles, driven by government push, increased profitability, lower Total Cost of Ownership, as well as the growing awareness of environmental sustainability among businesses. Customers are increasingly seeking vehicles equipped with advanced features that enhance safety, efficiency, and connectivity. It is imperative to align our offerings with these evolving customer expectations and leverage technology to deliver value-added solutions.
To compete effectively in the global automotive market, it is essential for companies to not only focus on product innovation but also on building robust sales strategies tailored to the specific needs of target markets. Investing in R&D to enhance products, leveraging data analytics to understand customer needs, and fostering strategic collaborations for market expansion is essential. Prioritizing agility is crucial for adapting to market shifts and customer preferences. Combining expertise in electric mobility with a customer-centric sales and marketing approach positions companies to capitalize on positive changes in the Indian automotive industry.
Electronics Era: In your view, what are the primary challenges hindering the widespread adoption of EVs, and how do you propose overcoming these obstacles?
Vani Rikhy Mehra: The demand for EVs is on the rise and is poised for continuous growth in India. In the commercial segment, significant barriers exist including the need for customers to perceive the value proposition of EVs beyond initial investments. Limited awareness about long-term benefits and the need for EVs to match the performance of traditional ICE vehicles also pose challenges. Additionally, the lack of charging infrastructure and financing options pose hurdles despite the competitive total cost of ownership.
To address these challenges, the industry must develop EVs that offer similar payload capacity, speed, torque, and overall performance as traditional ICE vehicles. Collaborations are crucial to establishing a robust ecosystem, including increased involvement of banking corporations and NBFCs in EV financing. Moreover, domestic production of critical components like semiconductor chips and lithium-ion batteries is essential to reduce import dependency and ensure a resilient supply chain.Considering the constantly changing trends in the global supply chain, companies must also be prepared to optimize and plan for potential contingencies. Building alternative strategies to tackle shortage problems, such as having an alternative vendor base and internal capabilities, can help prevent disruptions to production.
Electronics Era: Could you please share your experience thus far with Euler Motors?
Vani Rikhy Mehra: Joining Euler Motors as one of the pioneer members of the team has been a truly enriching journey. During initial days, we collaborated and implemented compelling pilot projects with key institutional partners like BigBasket, Udaan, and others to integrate EVs seamlessly into their fleets. These partnerships not only showcased the clear value proposition of EVs for intra-city logistics but also provided invaluable feedback to enhance our vehicle. This hands-on approach enabled us to refine our offerings, ensuring they met the precise needs of customers.
Our focus on building indigenous battery packs capable of withstanding diverse weather, temperatures, and road conditions has set us apart. But our innovation did not stop there. Recognising the importance of infrastructure, we invested in service stations to ensure seamless operation of our vehicle. By integrating hardware and software components, including powertrain control systems, battery and thermal management systems, and telematics, we have optimised the performance and efficiency of our vehicles.
Electronics Era: In what ways does Euler Motors differentiate itself from competitors in the market, particularly in leading the electric revolution in India?
Vani Rikhy Mehra: Our dedication lies in crafting EVs that resonate deeply with the needs of Indian businesses and customers, aiming not only to enhance profitability but also to redefine the experience of owning and operating an EV. As frontrunners in the Indian commercial EV landscape, we place paramount importance on key attributes such as robust payload capabilities, efficient battery technology, accessible charging solutions, and data-driven insights. Our primary objective revolves around addressing the practical challenges encountered by our customers on a day-to-day basis, including range limitations, charging infrastructure, and vehicle durability.
Following extensive market research, we proudly introduce our flagship offering, the HiLoad EV. Featuring an innovative liquid-cooled battery system, and a pioneering advancement in the industry, the HiLoad EV ensures unparalleled performance and reliability even in the most adverse weather conditions and challenging terrains. We are committed to engineering EV technology that is not just made in India but meticulously tailored for Indian conditions. Additionally, we have developed the ‘Euler Shepherd,’ an exclusive software application designed to optimize performance, forecast maintenance needs, and enhance overall operational efficiency.
A standout feature of our HiLoad EV is its flexible charging solutions and charging network, setting new benchmarks in the industry. With support for both AC and DC fast charging, our offering provides unmatched adaptability and convenience, seamlessly integrating into the daily operations of our valued customers.
Electronics Era: Would you be able to provide insights into the various customer engagement initiatives implemented by Euler Motors?
Vani Rikhy Mehra: We have always thought from the perspective of our customers, which is reflected in our flagship offering, the ‘Made in India, for India’ – HiLoad EV. Crafted with precision to excel in varied terrains and harsh climates, our HiLoad EV is powered by cutting-edge battery technology, ensuring consistent performance even in the toughest conditions. Additionally, our proprietary software, Euler Shepherd, enhances the customer journey by offering real-time tracking, optimizing fleet management, and enabling predictive maintenance. Notably, our focus on fast charging and liquid cooling sets us apart.
One of the standout features of our HiLoad EV is its versatile charging options and extensive network of charging stations in the industry. Along with an onboard charger, we are also the only EV company in the segment to offer DC fast charging for our customers which provides a 50 Km range within just 15 minutes of charge.
In addition, our innovative liquid cooling system plays a vital role in maintaining optimal performance. By efficiently dissipating heat generated during operation, it enhances battery life and overall vehicle reliability. This technology exemplifies our dedication to delivering vehicles that excel in both performance and durability.
Our brand’s growth is not just about expansion; it is about delivering tangible benefits to our loyal customers. Moreover, our dedication to responsible data usage ensures that every interaction benefits both our customers and the environment. Through proactive issue detection and insightful data analysis, we guarantee a seamless ownership experience for every customer.
Electronics Era: How does Euler Motors approach the management of sales channels and the expansion of its dealer network to ensure comprehensive market coverage?
Vani Rikhy Mehra: Expanding our reach across 40 cities nationwide, we are strategically positioned with 21 existing locations and 27 showrooms, covering major markets like Bengaluru, Chennai, Chandigarh, Jaipur, Hyderabad, and Kolkata. Recognizing the dynamic automotive landscape, driven by digitization and data analytics, we prioritize dealership support. Through recent initiatives, we empower our dealers with software solutions, offering insights into customer behaviors, proactive issue resolution, and heightened satisfaction. This commitment ensures our dealer network’s readiness to serve customers and foster business expansion.
Electronics Era: What marketing strategies has Euler Motors formulated for the Indian market for FY 2024–25?
Vani Rikhy Mehra: At Euler Motors, we are implementing a comprehensive marketing strategy tailored to the diverse Indian market landscape for FY 2024–25. In addition to expanding our retail footprint and after-sales services to ensure customer convenience and build trust, we recognize the importance of understanding and addressing the unique needs of each city, thus, we are delving deep into city-specific marketing campaigns and below-the-line (BTL) activities. Our aim is not only to create awareness about our products but to promote EVs overall. We are also offering segment-specific financing options to make EVs more accessible.
To further enhance our outreach and educate potential customers about the benefits of EVs, we have launched Euler Motors’ EV Ki Pathshala. This educational initiative aims to raise awareness about EV technology, its environmental advantages, and the economic benefits of transitioning to electric mobility. We are also supplementing these efforts with targeted awareness campaigns and outreach programs to educate and engage potential customers about the advantages of integrating electric vehicles into their fleets.
