Investor Deck

© Euler Motors
Euler’s fundamental thesis around electric vehicle opportunity

1. Story So far
• Landscape and Light Commercial Vehicle market
• Which product formfactors to create
• What was needed to be solved to be an OEM
• Who has joined us in the journey

2. Product

3. Adoption and Ecosystem

4. Way Ahead
 In 2018, we believed light commercial vehicle segment was ripe for electrification

Private Vehicles Commercial Vehicles

2 Wheeler 4 Wheeler SCV & LCV MHCV & HCV Buses

Price Differential Driven by Initial Purchase Cost Driven by Total Cost of Ownership

Used for larger trips which creates anxiety Standard deviation Trucks can change Standard deviation
Range Requirements
in buyer’s mind is less routes is less

Predictable Route;
Range Extension Range Extension
Charging Infrastructure Infra requirement is sporadic and complex Cluster deployment
Infra Required Infra Required
approach
Competitive due to Incumbents focus Less Competitive as dominated by Indian OEMs with India unique
Competition Landscape
low barrier to entry area due to Tesla form factors less geared for electrification;
Euler wants To revolutionize the LCV segment and emerge as the dominant player in
the post electrified segment.

Product Platforms

Euler HiLoad Euler Storm Euler Hurricane

3W Platform 4W Mini-Truck Platform 4W Pickup Platform

Range – 100-120 Km Range – 150-180 Km Range – 200+ Km

Payload – 700 Kg Payload – 1200 Kg Payload – 1800 Kg
Production Started Production – Nov’22 Production – Nov’23

India Market
Size (‘25) ~ 150K units annually ~ 250,000 units annually ~ 300,000 units annually
~ 800M Revenue annually ~ $ 2.5B Revenue annually ~ $ 4B Revenue annually
When we began market was in nascent stage with work needed to be done in each
segment

Product Adoption Ecosystem

“India Market Fit” “Demand & Distribution” “Sales, Charging & Financing”
Euler have been able to attract $12M from marquee investors and built a great team.

Saurav Kumar
Founder, CEO - Serial Entrepreneur – Ex Co-founder and CEO Of Cube26
Strong Software And Engineering Background – Worked For Yahoo And Moat Inc.
Masters In Engineering In Computer Science At Cornell University

Vani Rikhy Ramakrishna Rayudu

Institutional Sales - 10+ Experience Mechanical R&D - 35+ Experience
Cube26, Reliance chemicals - Cornell University Piaggio, Bajaj, Atul Auto

Raman Pandey Gaurav Kumar Mahesh Pant

Retail Sales – 16+ Experience SCM/Manufacturing - 7+ Experience Inventory & Logistics - 26+ Experience
Bajaj Auto Limited Cube26, Amazon - MBA from Purdue University Honda, Maruti, Subros

Nimesh Gupta Poorvak Kapoor Shiva Verma

Post Sales & Investor Relations - 11+ Experience Technology - 7+ Experience Manufacturing Engg. - 14+ Experience
PETRONAS, RBS - IIT Delhi Cube26, Juggernaut Honda, Tata

Kyle Lobo Siddharth Shah Zuo Tso

Electrical Consultant, USA Software Consultant, USA Global Sourcing, China
Electrical Architect at Rivian, Faraday Future Head Software at Canoo, Farday Future Business - LKK Design
Euler’s category leading product journey

1. Story So far

2. Product
• 3W Product
• Liquid Cooled Battery and Skateboard Chassis Platform
• Power Electronics
• Software

3. Adoption and Ecosystem

4. Way Ahead
Euler hiload has been optimized to deliver on best loading capacity and earn-ability.

Proven Product market Fit

Leader in Payload Capacity

Category Leader in Range

DC Fast Charging enabled for

range anxiety

FAME II Certified
We have made bold technology choices to solve for long vehicle life.

Liquid Cooled Battery Pack Designed For Indian Abuse Tolerances

5 Year+ life cycle of battery Fast Charging 50 Kms
pack to push for higher in 15 min - alleviating
secondary value charging anxiety

Only Indian OEM to have a proprietary liquid Cooling Technology

Skateboard Chassis Format Designed for Platform Sharing

Designed for Integrated Battery Scalable – Designed for
•Helps in lowering the centre of platform sharing, can be scaled
gravity of the vehicle to various sizes and topped
• Increased Safety factor with a variety of bodies
•Theft protection

Only Indian OEM to have a chassis designed for EV application

Vertically integrated power electronics helps us to gain cost & supply chain advantage

Over the air (OTA) Open API Plug and play

Cloud Connected
upgradable approach components

Vehicle Control Unit Instrument Cluster Motor controller BMS 2.0 On Board Charger
Production Production Testing Testing Development

Brain of the Vehicle, OTA Displays the basic relevant Complete integration Will create a unified battery and Cost reduction opportunity
Capability to all electronics. information about the via stark to thermal management system To be extended to include
vehicle to the driver. monitor, control and and reduce cost DC-DC convertor in a unified
update logic sets hardware
Proprietary software systems tailored to customer needs are the fabric of the company

Productivity Optimization Safety Financing & Insurance

•Fleet Utilization •Tracking energy •Collision notifications •Vehicle usage & health
efficiency report
•Customer Service Times •Water intrusion alarms
•Recording Powertrain •Electronic driver logs
•Identified unexpected Diagnostics •Risk management
stops reports •Vehicle inspection
•Vehicle maintenance reports
•Accurate arrival and
departure times •Charging infra mapping
Euler’s approach on “go to market”

1. Story So far

2. Product

3. Adoption and Ecosystem

• Euler Mobility
• Charging Infrastructure
• Financing Ecosystem

4. Way Ahead
Euler took a bold business decision to create its own mobility platform to boost buyer
confidence and compete with incumbents distribution network

Market Segmentation Categories

Anchor around new age clients*
End User Type that can give large demand across
different geographies
Retail For Own Use
Go To Market Leverage the relationship to solve
Institutional Captive operators
Segment for charging and financing
ecosystem
Government Market Load Operators

Establish base earn-ability potential

and start retail sales.
Preferred Institutional* :
Ecommerce, FMCG, Utilities, Pharma
Euler has successfully solved for “go to market” and will scale the model over the next
2-3 years for other platforms and geographies.

Product Adoption Ecosystem

Service & Charging

Vehicle Financing
Station

India’s Benchmark Cargo Vehicle Order Book of 2500+ Vehicles to be Euler operates 200 Charging Vehicle financing is powered by
deployed over next 12 Months Points & 9 service stations. retail, institutional and govt.
financing.

Dhara Finance
Euler’s journey ahead

1. Story So far

2. Product

3. Adoption

4. Way Ahead
• Manufacturing and ramp up plans
• New Product Launch
Euler has setup an integrated production and R&D facility and is looking to setup a
larger manufacturing factory

Current Facility is capable of

peak production of 400
vehicles/month

We are planning to move

Vehicle Production Line Battery Production Line production to a larger facility in a
year with peak capability of 5000
vehicles/ month.

Manufacturing automation is
built into our design choices

Cell Testing Laboratory Production Inventory

Euler is currently ramping up its operations and business team

Industry hires
• Jitendra Aswani Sourcing – 12+ years with Eicher Polaris, Escorts
• Vinay Pandey Sourcing – 13+ years with Honda
• Pankaj Chaudhary Sourcing – 10+ years with Eicher, Sonalika Tractors
• Prashant Kabdwal Quality – 10+ years with Honda
• Achal Bajpai (yet to Join) Quality – 15+ years experience with Tata Motors
• Rohi Sharma (Yet to Join) Finance Controller – 10+ years of experience with Sogefi (Italian MNC Tier -1 Automobile)
• Prithwish Kundu (yet to Join) Engineering – PHD, Aerospace North Carolina – Research Scientist 5+Years with
Argonne National Laboratory – worked with NASA.

Other Hires

• Paul Zachariah - Chief Executive Officer @ Engines & Vehicles SBU,Continental Engines Ltd, Ex VP Sales &Maketing, Atul Auto –
He has resigned from Continental. We are considering to bring him onboard to lead business and retail sales

We are looking to hire across business, sales, finance and manufacturing positions.
Next 24 months is going to be a supercharged journey

24 months journey :

1. Ready with all the 3 Product Platform – HiLoad, Storm and Hurricane.

2. Expand the 3W Cargo to 12-15 cities, setup the retail sales distribution
network, look at the export market (SAARC, ASEAN)

3. Increase the orderbook to 20 K+ vehicles, deployed 5-8 K+ on ground.

Thank You!