Magenta – Euler Partnership to deploy 1000 electrical cargo automobiles
Monday, eleventh April 2022: Built-in charging & electrical mobility options agency Magenta has deployed over 100 electrical cargo automobiles beneath its EVET model in Bengaluru, in partnership with Euler Motors, with plans to deploy 1000 extra within the coming months. Magenta, which launched its e-mobility platform beneath the EVET (Electrical Car Enabled Transport) model earlier this yr, goals to deploy & function over 2400 electrical automobiles (EV) in its fleet in Bengaluru, Hyderabad, Mumbai & Chennai in 2022.
Underneath EVET, Magenta is already working over 400+ electrical cargo transport providers utilizing the electrical mobility platform. The brand new 100 electrical cargo fleet is supposed for mid-mile & last-mile supply servicing e-commerce, meals supply, pharma & different last-mile logistics shoppers. Whereas Euler Motors will cater to car deliveries and repair help, EVET through its full stack know-how and ecosystem, will oversee buyer deployments & servicing final mile transportation. The important thing cities focused for the deployments embody Hyderabad, Chennai, Bangalore amongst others.
“Magenta’s mission has at all times been to allow clear mobility. We’re thrilled to be including an environmentally pleasant electrical fleet to handle the ever-increasing want for last-mile logistics and transportation. Our sturdy intention is to help e-commerce and logistics enterprises in scaling up whereas holding their sustainability and cost-effectiveness objectives in thoughts” stated Darryl Dias, Co-founder & Director Magenta.
Saurav Kumar, Founder and CEO, Euler Motors, stated, “Euler Motors is already on its pursuit to convey an actual change in EV adoption and aggressively develop its footprint to drive zero emission logistics in India. EVET and Euler Motors are well-aligned with one another, each based on a premise to create a clear vitality ecosystem in India with phase first innovation and options; we’re completely happy to be partnering with EVET to deploy our extremely powered HiLoad EVs for sustainable transportation. This partnership is a sworn statement of our thriving imaginative and prescient, and of HiLoad’s distinctive worth proposition which units it aside within the trade. With the rising buyer confidence, we intend to make our EVs extra accessible and strengthen our presence in new markets and supply hubs of southern India.”
Underneath its eFaas (electrical Fleet as a service) working mannequin, EVET at present provides a complete end-to-end resolution. The working mannequin offers electrical automobiles bundled with EV charging, parking hubs and full-stack software program know-how for managing, monitoring & monetizing property
EVET has witnessed 10x progress since its launch within the Bengaluru market in FY22. By 2025, the corporate plans to journey 1.5 million inexperienced kilometres monthly with its Electrical Fleet.
Seed funded by HPCL in 2018, Magenta can also be backed by the Microsoft Begin-up Program additional to strengthen its superior know-how platform for Electrical Mobility. Magenta had raised pre-series funding from JAN (JITO Angel Community), LetsVenture & Sequence A funding by famend Indian American philanthropist, Dr. Kiran Patel. The model is at present in discussions to lift Sequence B funding in 2022.