Yamaha has entered the electric vehicle leasing space in India through the delivery service and EV rental company Zypp Electric. To increase its foothold in the mobility service sector, Yamaha announced the establishment of Moto Business Services India Pvt. Ltd (MBSI) earlier this year. Now MBSI has invested in the Gurgaon-based EV rental Zypp Electric.
Zypp Electric is an EV-as-a-Service platform founded in 2017. It aims to make India carbon-free by using electric vehicles and EV based technology to make last-mile logistics sustainable and emission-free. The company currently delivers groceries, medicines, food, and e-commerce packages through their fully automated IoT and AI-enabled scooters. These are low on maintenance and have a high performance, thereby reducing delivery cost and pollution on an asset-light model.
Zypp Electric currently has a fleet size of over 3500 EVs under its belt. Moreover, it has also partnered with established brands such as Subway, Flipkart, Myntra, Swiggy, Licious, Baskin Robins, and many more.
Yamaha has started its operations with Zypp Electric by launching 250 Hero Electric scooters in New Delhi. This includes the Hero Electric NYX model as well. Their partnership is in line with the Delhi Electric Vehicles Policy Act 2020. The Act makes it mandatory for all logistic companies to go 100% electric by 2025. While Zypp Electric currently operates in the Delhi-NCR region only, it reportedly aims to expand to major cities like Bengaluru, Mumbai, Chennai, Hyderabad, and more this year.
The growth of the electric mobility market in India is apparently in line with the global trends. Yamaha MBSI predicts rapid traction for shared two-wheelers and four-wheelers in the EV segment. The company aims to generate employment avenues for the Indian youth, by onboarding EVs across multiple cities and partnering with environment-friendly mobility companies.