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Euler Motors net loss jumps five-fold to Rs 175.44 crore in FY23

Economic Times · 1y

Euler Motors, an Indian electric vehicle startup, reported a net loss of Rs 175.44 crores in FY23, which is five times higher compared to the previous fiscal year. The increased loss can be attributed to investments in infrastructure, the scaling up of operations, and R&D activities. Euler Motors focuses on manufacturing and delivering electric cargo vehicles for last-mile delivery.