Euler Motors Partners with Annapurna Finance to Boost EV Financing Access in India

Euler Motors, an electric commercial vehicle manufacturer, has announced a partnership with Annapurna Finance to strengthen its vehicle financing ecosystem and accelerate the adoption of electric commercial EVs across India. With this collaboration, Annapurna Finance joins Euler Motors’ growing network of over 15 plus financing partners, further expanding access to EV ownership across diverse customer segments.

India’s transition to sustainable transportation is gaining momentum, with commercial EVs playing a pivotal role in reshaping goods movement, from last-mile delivery to intercity logistics. As adoption scales, financial institutions including banks, NBFCs and fintech players are emerging as key enablers of this shift.

The partnership is focused on improving access to financing for commercial EVs, particularly for fleet operators, small businesses and last-mile entrepreneurs. Annapurna Finance will offer customised financing solutions for Euler Motors’ commercial EV portfolio, including both three-wheelers and four-wheelers, aimed at improving affordability and simplifying access to vehicle ownership. By combining Annapurna Finance’s strong presence in semi-urban and rural markets with Euler Motors’ expanding footprint, the partnership is expected to unlock demand across underserved and high-growth segments.

Rohit Gattani, VP - Growth and Vehicle Financing, Euler Motors, said, “Financing remains one of the most critical levers for EV adoption in the commercial segment, especially in markets where access to formal credit is limited. As demand scales, the real unlock lies in reaching operators who have the intent to transition but remain outside traditional lending ecosystems. Annapurna Finance brings a strong, on-ground understanding of these customer segments, particularly in semi-urban and rural markets, which will allow us to extend EV access far more meaningfully. This partnership is about going beyond availability of credit to enabling real participation in the EV economy, with stronger unit economics and more predictable earnings for small businesses and fleet operators.”

Asish Mishra, Head - Product, Annapurna Finance, said, “At Annapurna Finance, our focus has always been on expanding access to credit for segments that are often overlooked by mainstream financial systems. With EVs emerging as a viable pathway for income generation, this partnership comes at a critical time. Euler Motors’ strong product engineering and real-world performance focus give us confidence in the asset itself, which is fundamental to enabling sustainable financing. For our customers, this translates into higher vehicle uptime, better operating efficiency and ultimately more stable and improved earnings over the long term. We see this as a meaningful step towards building both financial inclusion and clean mobility at scale.”

Euler Motors continues to strengthen EV financing through a data-driven approach that provides financiers with deeper insights into vehicle performance and asset reliability. This enables more informed risk assessment, enhances confidence in EV lending and supports the development of a more robust financing ecosystem.

Through this collaboration, both companies aim to expand access to electric commercial vehicles for fleet operators, gig economy workers and micro-entrepreneurs across India. The partnership is aligned with a shared vision to transform last-mile logistics, support MSME growth, and contribute meaningfully to reducing carbon emissions.