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    World EV Day: Euler Motors aims at tenfold growth by the end of this fiscal

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    World EV Day: Euler Motors aims at tenfold growth by the end of this fiscal

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    The smooth transition to the electrification of vehicles is on top of the minds of the government and automakers not just in India but across the globe. Global electric vehicle sales have grown by 61 percent this year. In India 5,82,625 electric vehicles were sold till August this year and that's already 46 percent higher than last year.

    The last few years have witnessed a constant reiteration of the need for carbon-neutrality. India intends to go carbon-neutral by 2070 and a key focus area in the process is the adoption of low-carbon mobility.
    The smooth transition to the electrification of vehicles is on top of the minds of the government and automakers, not just in India but also across the globe.
    Global electric vehicle sales have grown by 61 percent this year. In India 5,82,625 electric vehicles (EVs) were sold till August this year and that's already 46 percent higher than last year.
    But despite the central and state governments' push towards a faster transition to electric mobility, the EV space still grapples with challenges like lack of charging infrastructure and battery swapping technology.
    On the occasion of World EV Day, CNBC-TV18 spoke to Naveen Dachuri, Co-Founder & CTO of Yulu; and Saurav Kumar, Founder & CEO of Euler Motors, to discuss how the startups in the EV space are doing their bit to make mobility affordable and sustainable.
    Kumar said they aim to expand to 20 cities and grow 10 times to a Rs 300-crore revenue by the end of the ongoing fiscal.
    “Euler Motors was in three cities earlier this year and today we are planning to go to 20 cities by end of this financial year. Revenuewise, we did close to Rs 25 crore in the last financial year. We are looking to grow 10x this year. So we should be closing this financial year at Rs 300 crore.”
    Also, Rajeev Agarwal, Founder & CEO of Innoviti, spoke about how the company plans to utilise its recent fundraise of $75 million.
    Watch video for more.
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