eBikeGo sets ambitious growth trajectory for electric vehicle rentals in India
eBikeGo, India’s leading electric vehicle rental service, is poised for substantial growth with plans to increase its fleet of 2-wheeler electric vehicles (EVs) to over 1, 00,000 by the end of next fiscal year. Having established a robust presence in 7 metropolitan cities over the past three years, the company now aims to broaden its operations to include tier I and tier II cities across the country.
The last-mile delivery and e-commerce business is growing in India at the rate of 6.4% as of Q1 of 2024. As direct-to-consumer delivery becomes the need of the hour and a compulsory asset, the affordability of a fuel 2W vehicle at the current price point raises a question. Additionally, adversely affecting the environment.
The annual growth rate of Hyperlocal Delivery (CAGR) from 2024 to 2029 is expected to be approximately 16.14%, resulting in a projected market volume of US $92.50 billion by 2029. Hyperlocal delivery models are also penetrating deep into tier II and III cities, as well as rural areas like Zepto, Big Basket, etc. to name a few.
The increase in the usage of fuelled 2Ws for the delivery chain will not only increase the fuel consumption but also, hamper the environment by adding up air pollution and substantial increase in carbon emissions. eBikeGo constantly persevere to reduce carbon emissions and in order to tackle this massive problem the company aims to switch 1,00,000 fuel bikes to electronic bikes by next fiscal year, hence saving 1,98,000 tons of carbon emission.
Since its inception in 2019 at Amritsar, eBikeGo has shown a dedicated commitment to establishing a significant footprint in the pan India rental business. With four years of operational experience in the 2W rental business and extensive research, eBikeGo currently manages a fleet of over 3,000+ ebikes, meticulously tracked over 1crore kilometers and optimized using data analytics (amounting to over one petabyte of data) through our home-grown telematics device.
“After a remarkable success in metropolitan cities, we now focus our expertise to expand to tier I and tier II cities. We are enthusiastic about the potential to transform everyday commuting into a more sustainable practice that supports both the environment and local economies,” said Dr. Irfan Khan, Founder & CEO, eBikeGo.
