- Oiler Motors has started a new manufacturing plant at Palwal in Haryana with an investment of Rs 100 crores.
- With this new state-of-the-art project, the company's annual production capacity has now reached 24,000 vehicles.
- The company's monthly sales have directly increased from 40 vehicles to 800 vehicles in just one year.
Electric commercial vehicle manufacturing giant Euler Motors has inaugurated its new dedicated four-wheeler manufacturing plant at Palwal in Haryana. The company, backed by Hero MotoCorp, has invested Rs 100 crore for this new plant. This investment has expanded the company's entire production area to 40 acres and has increased the annual production capacity to 24,000 vehicles.
Growing demand and expanding production is driving the use of electric vehicles in the commercial cargo sector at a rapid pace. According to the company, only 40 four-wheelers were sold per month in April last year. This year this number has directly reached 800 vehicles in the month of June. Oiler Motors' market share in the four-wheeler cargo EV segment has grown to around 28%.
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Key features of the new plant:
- Production Capacity: When commissioned at full capacity, the plant will operate in two regular and one hybrid shifts.
- Modern Technology: The plant is equipped with an automated assembly conveyor line, a body shop and an integrated battery-pack assembly line.
- Major Models: The plant will manufacture the 'Turbo EV 1000' (a 1-tonne e-truck) and the 'Storm EV' (India's first commercial e-van with ADAS technology).
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A partnership between Hero MotoCorp and Oiler Motors
Hero Motocorp owns 36% stake in Oiler Motors. Pawan Munjal, Executive Chairman, Hero MotoCorp, explained that the commercial mobility sector in India is at a critical juncture, with sustainable technology and government policies driving EV adoption at a rapid pace.
Saurav Kumar, Founder and CEO, Oiler Motors, said, “Hero MotoCorp's support is not limited to capital but their network has also benefited us immensely. Our sales and service network has expanded from 35 touchpoints to direct More than 100 touchpoints has been up to.”