[Press Release] Etrio ventures into new electric three-wheeler space with the launch of Touro Max and Mini

Tanya Chaudhary

PRESS RELEASE

Etrio ventures into new electric three-wheeler space with the launch of Touro Max and Mini

Launches product variants for cargo segment catering to intracity logistics
Touro Mini is 100% Indian making it eligible for central and state government subsidy
National, 20th October 2020: Etrio, India’s fastest growing electric vehicle start-up with an aim of electrifying intracity logistics has expanded its product portfolio with the launch of its new electric three-wheeler range of products under the brand name “Touro”. Catering to the cargo segment, the two new variants will be focused on intra-city logistics especially in last-mile delivery applications. The passenger variants of the three-wheelers will be rolled out soon. The company raised funding of $3 million, last month to facilitate these launches.

The brand, Touro, is derived from the Portuguese word Toro which means ‘a bull’. The design philosophy, thus, emulates the attributes of a bull such as strong stability, unmatched power, immense load carrying capacity, relentless work ethic and intense focus. Touro comes with bull inspired signature front grille and Etrio’s manufactured brake drums. The company takes pride to announce that the entire Touro family is going to be completely localized making it eligible for central and state government subsidy.

Commenting on the announcement, Deepak MV, Co-founder & CEO, Etrio said, “With the launch of Touro, we now have added new electric vehicles to our portfolio of retrofitted products. We are on a mission to electrify Intra-City logistics and bring the widest range of electric vehicles tailor-made for this segment. With Touro, the customer has dual benefits of operational cost savings of almost 70% and unmatched comfort to the driver through a gearless, smokeless and noiseless ride. We have built a product that delivers top performance in terms of range and volumetric capacity coupled with robust safety and stability standards.

We provide best-in-class warranties on the batteries and power train to deliver a hassle-free ownership experience. From a technology point of view, we bring various best in the segment features including hydraulic brakes with regenerative braking, independent suspension, cloud-based vehicle tracking equipped with a driver mobile app among others. While the primary focus remains on vehicles with advanced Lithium-Ion battery technology, Etrio also has a certified product range with lead-acid to cater to a range of end-users.

Etrio anticipates popularity for its Touro, basis the strong electrification mandate by e-commerce companies and the competitive Total Cost of Ownership (TCO) of Touro vis-à-vis its diesel counterparts. Electric three-wheelers are a new territory for drivers as well and buy-in of driver-partners is mandatory for Touro’s success. We also take pride in Etrio’s comprehensive driver training and certification program including necessary orientation and handholding to run this new beast on road.”, he further added.

The technological edge of this workhorse helps the logistics and e-commerce operators supervise vehicle usage and monitor the real-time status of each vehicle including the current charging level. Preventive maintenance of Touro helps fleet operators keep their fleet in good shape and freeing operators from the agony of fuel theft. At the same time, human issues such as misuse of vehicles or rash driving patterns can be easily identified, and suitable countermeasures can be put in place. The fleet operator is always in complete control of Etrio’s Touro.

Etrio is working closely with its B2B customers like LetsTransport, Amazon, Big Basket, Ikea etc. thereby customizing the product basis operational requirements. The product does not have a fixed price as prices of the Touro range vary basis battery chemistry, payload required, cubic capacity, and number of desired kilometers to be run daily, depending on customers’ suitability.

Touro Max and Mini are going to be available on both sales and leasing options. The company will offer Touro on lease to leading organizations for orders of over 50 units over a three-year contract. The company has a production capacity of 500 units per month and is looking to rapidly scale up the deployment of Touro across the country through a mix of outright sales and leasing models.

Currently, Touro is undergoing pilot runs at leading e-commerce logistics companies in Hyderabad, Delhi, and Bangalore. The company is set to expand its footprint across the country in the coming few months. The passenger variants of the new electric three-wheeler shall be launched in the next few months during which the company plans to set up its dealership network in select locations.

With a rapid decline in the battery prices coupled with impressive EV policies from states like Telangana and Delhi, the transition to green mobility is gearing up at a faster rate across the country. Keeping this in mind and in tandem with the recent study by CRISIL stating around 50% new three-wheelers will be electrified by 2024, Etrio is committed to further promote circular economy through its breakthrough products such as Touro.

About Etrio: Etrio was founded in 2017 with a vision to provide “EV for All” and transform the environment, lives and businesses. The company brings the widest range of electric vehicles including two, three and four-wheelers to drive affordable electric mobility. Today, its portfolio has EV products across a payload ranging from 75 kg to 750 kg including new electric three-wheeler, new electric two-wheeler and a retrofitted e-LCV. With a comprehensive approach from building reliable and intelligent products and reducing total cost of ownership to ensuring a delightful customer experience, Etrio has in a short span of time established credibility and gained trust of leading e-commerce and logistics players including Amazon, Flipkart, Big Basket, GATI, LetsTransport, Delhivery and many others.

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Tanya Chaudhary

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