MoEVing Buys Euler Motors’ Mobility Biz

Although, the company did not disclose the financial terms of the deal but said that the buyout will help it add 300 new L5 vehicles to its fleet

The company said that this acquisition positions it as the largest commercial electric vehicle fleet operator in India, increasing its fleet by 30%, and increasing to 1,400 L5 vehicles

This move combines EVonGO’s fleet with MoEVing’s existing operations, enhancing its presence in major cities like Delhi NCR, Bangalore, and Hyderabad

EV fleet startup MoEVing has bought Euler Motors’ mobility business EVonGO to expand its fleet.

Although, the company did not disclose the financial terms of the deal but said that the buyout will help it add 300 new L5 vehicles to its fleet.

The company said that this acquisition positions it as the largest commercial electric vehicle fleet operator in India, increasing its fleet by 30%, and increasing to 1,400 L5 vehicles.

This move combines EVonGO’s fleet with MoEVing’s existing operations, enhancing its presence in major cities like Delhi NCR, Bangalore, and Hyderabad. 

The acquisition not only incorporates EVonGO’s customer base, team, vehicles, and charging infrastructure into MoEVing’s portfolio but also expands its operational network.

MoEVingn CEO Vikas Mishra said, “This acquisition strengthens our presence in key regions, and we welcome the integration of a highly skilled team into our operations. By leveraging the synergies between our two companies, we aim to set new benchmarks in the EV logistics industry and lead the way in reducing carbon emissions.”