EV Rental & Ridesharing Startups in India
In India, There are around 399 electric vehicle startups. Last year, the USD 118 billion Indian automobile sector suffered huge losses as a result of the COVID-19-induced lockdown implemented across the country. Car sector growth fell again in the second half of 2020, due to rising petrol prices, as sales resumed due to the lifting of the lockdown.
According to Deepak MV, Founder, and CEO of Etrio, the rising cost of gasoline, as well as the government’s demand to allow only low-polluting cars on Indian highways, increased the cost of owning an internal combustion engine (ICE) or fuel-based vehicle.
A Hyderabad-based firm, Etrio, began by refurbishing existing ICE cars to make them electric but has now started manufacturing EVs, including three-wheeled light commercial EVs.
Whether you are looking for long-term or short-term rental Services, an electric vehicle can provide you with several benefits when buying one. We recognize that some people will buy an electric car for a short period of time, such as a road trip or vacation.
It’s worth noting that, as electric cars grow in popularity, so does the technology that supports them. Like everyone else, scientists and automakers are constantly looking for ways to provide or enhance better alternatives.
Indian Two-wheeler Ride-Sharing Market
Bike and car rental is a successful business in India. A large number of the Indian population prefer to use rental and ridesharing services to reach their destination. Ola Bikes, Uber, Rapido, and Zoomcar are some of the very successful Indian ridesharing startups.
In India, the ride-sharing market still has a long way to go to develop and is expected to grow at a CAGR of 20.2% from 2020 to 2025.
Electric vehicles are the future of transportation, and the Indian government, as well as the world, is doing its bit by subsidizing electric vehicles and announcing incentives for electric vehicles.
Why Electric Vehicles for Ridesharing Services?
- Green / no tailpipe emissions / and eco-friendly
- No need to worry about a hike in fuel prices
- cost savings on maintenance
- Desirable/Exciting for new IoT technology
- no noise/ No noise pollution
Electric Vehicle Rental & Ridesharing Startups
Following is the list of Electric Vehicle Rental & Ride Sharing startups in India
- Bounce Share
- E-Savari Rentals
- Tata Motors+ Orix Auto Infrastructure Services
- Blu Smart E-Mobility Startups
- Avis India Partners With quikk India for Electric Vehicle Fleet
- ZoomCar- EV Rental Services
Yulu Bikes- Ridesharing E-mobility Startups
An electric bike rental company based in India has signed a strategic collaboration with Bajaj Auto and raised $8 million in funding.
Yulu Bikes, a Bangalore-based electric bike-sharing company that works with Uber, said today that it has received support from one of the country’s major manufacturers. Yulu is likewise rapidly growing its footprint in the country. It has obtained authorization to provide electric bikes at 250 metro stations in Delhi.
Gupta, who also co-founded advertising tech company InMobi, said, “We are already servicing in nine of those.” “We work in groups,” says the narrator. As a result, we plan to deploy about 1000 cars and install 200 to 300 parking stations and 25 to 30 charging stations. We’ve been able to duplicate this cluster model in several other locations,” he added.
Yulu aims to make urban mobility in India more accessible, shareable, and sustainable. What started as a project to reduce traffic congestion and pollution in Indian cities is now revolutionizing urban mobility across the country.
The company empowers residents in Indian cities to drive a paradigm shift in the mobility industry, by making the urban commute more efficient and eco-friendly.
Hoppr- E-bike Rental Startup
Hoppr is a Mumbai-based company that rents electric bikes. Hopper e-bikes are built with technology that will not only get you from point A to point B but will also do it in the most efficient, convenient, and environmentally responsible way.
Hopper is committed to finding a solution for your daily commute that is healthier for your wallet, your neighborhood, and your community.
Bounce – Two Wheeler ride-sharing Startups
Bounce is a Bangalore-based electric two-wheeler ride-sharing company that offers its ride-sharing service in Bangalore, Hyderabad, Mysore, Vadodara, Vijayawada, and Jaipur.
The ridesharing startup, Bounce is India’s first smart mobility solution, whose mission is to make daily commute stress-free, time-saving, reliable, and convenient.
According to a tweet by bike-sharing company CEO and co-founder Vivekananda Halekre, the Indian ride-sharing mobility startup also launched its electric scooter in the Indian market, called Bounce-e.
Bounce, along with others like Yulu and Vogo, has grown rapidly over the years, and like these companies, appears to be investing in an electric future.
E-Savari Rentals Startups
Some things are meant to look different, to be diverse, and yet continue to impact our lives for good. E-Savari, headquartered in Indore, Madhya Pradesh, is an idea that has influenced the future of e-mobility. Established in 2017 to increase e-mobility penetration in the country, e-Savari strives to re-invent the way e-vehicles are perceived and approached today.
Through the robust leasing-cum-ownership model, E-savari is in the spectrum of the business of electric rickshaws which are used for ferrying passengers or carrying goods. Either way, through e-Savari, provides premier e-rickshaw solutions to those who want to thrive in their respective businesses with the most economic resources.
E-Savari Rental Service
- Customers become as good as vehicle owners from day one
- Only a nominal security deposit is to be paid in advance along with fixed payouts per day.
- Once the tenure is completed, the customers have the option to surrender the vehicle and get the security deposit back.
- Customers can also choose to take any other vehicle and continue with the existing vehicle without any daily cost.
Tata Motors+ Orix Auto Infrastructure Services
Tata Motors introduced its electric SUV, Nexon, in January, and now it has created a “first-of-its-kind” subscription plan for this tiny SUV, allowing consumers to rent it for a set monthly fee. The concept of a car subscription model is still gaining momentum in India, and Tata may use it to enhance the potential for electric vehicles shortly.
To provide the E-mobility Rental service, Tata Motors has teamed up with rental company Orix Auto Infrastructure Services. This option will be offered in just five metro cities at the moment: Delhi, Mumbai, Pune, Hyderabad, and Bengaluru.
Blu Smart E-Mobility Ridesharing Startups
Blue Smart India’s all-electric shared E-mobility ride-sharing services company was co-founded by Punit K Goyal. Blue smart Emobiltiy services platform for an efficient, affordable, and sustainable future.
The goal is to accelerate the adoption of electric vehicles by creating a reliable charging infrastructure environment. That is why, to improve EV last-mile connection, Blue smart is building additional hubs in several districts of Delhi, including South Extension and Dwarka.
Avis India Partners With quikk India for Electric Vehicle Fleet
On February 17, 2019, Avis India announced cooperation with Quikk India to provide corporate electric mobility services, including an EV fleet and access to a strong EV charging infrastructure.
Tata Power Delhi Distribution Ltd (Tata Power-DDL) partnered with Zoomcar, a Bangalore-based self-drive car rental firm, in November 2019 intending to increase its contributions to clean and green technology projects. The action would aid the distribution company’s operations and maintenance (O&M) efforts on electric vehicles (EVs) in North Delhi.
Ola, the Indian ride-hailing startup, has managed to build a buzz around its electric scooter ambitions, but the vehicle’s long-term viability will be determined by several factors, some of which are beyond the company’s control.
Bhavish Aggarwal, the founder, and CEO of Softbank-backed Ola announced earlier this month that the company’s electric scooter, which would be its first step into manufacturing, will be available on Aug. 15.
According to multiple individuals familiar with the plans, Maruti Suzuki India Ltd and its parent Suzuki Motor Corp. are increasing their bets in the shared mobility business by devising a multipronged approach to leverage this fast-rising market and counter a potential impact on personal car sales.
Hyundai Motor Group of South Korea made a $300 million investment in Ola, India’s largest cab aggregator, in March. Hyundai Motor Company and Kia Motors Corporation will collaborate with the Bengaluru-based company to build customized electric vehicles and charging facilities for ride-hailing services.
ZoomCar- EV Rental Services
The Mahindra Reva E2O is the newest member of the Zoom fleet, and they are excited to present it to you. Zoom is the first and only automobile rental company in India to provide a self-drive plug-in electric vehicle.
The zoom members have the option of renting a car by the hour or the day. The new E2O is equipped with a cutting-edge lithium-ion battery. Without recharging, the E2O may go up to 100 kilometers.
The Zoom team is very proud of the E2O’s environmental benefits – of which there are many! Each E2O is reduced CO2 emissions by 9 tonnes per year, which is six times the typical Indian’s yearly carbon emissions!
MG Motor India partners with Zoomcar, ORIX to offer ZS EV on subscription at Rs 49,999 per month. Under the 36-month plan, MG Motor India has teamed with vehicle rental service providers Zoomcar and ORIX to provide the ZS EV for an introductory price of Rs 49,999.
The ZS EV is now available for lease in Mumbai, Pune, Delhi-NCR, and Bengaluru for 12, 18, 24, 30, or 36 months. Each of these subscription options has its own cost.
Reasons Why Leasing an EV is Better
More drivers are preferring to lease rather than buy new automobiles as the sticker costs of new cars continue to increase. Because lease payments are calculated based on how much value the car would lose over the contract period, leasing an EV generally entails a smaller down payment and cheaper monthly payments than financing a brand-new automobile. Furthermore, any federal or state tax credits are usually added to the transaction price, lowering the monthly lease payments even further.
Fresh technical breakthroughs are continually arriving since contemporary electric powertrain technology is still relatively new and quickly growing. When you lease an EV rather than buy one, you may upgrade to a newer model every couple of years, ensuring you get the most up-to-date electric technology. You may still trade in your old car for a new one, but you won’t get much money back.
The battery replacement is the most expensive part of owning an electric car. It can cost tens of thousands of dollars and occurs after 8-10 years of use. Leasing an EV allows you to avoid this high expense by returning the vehicle before it becomes a problem.
The growing popularity of shared mobility is expected to reduce global car sales as more people opt for Ridesharing Services. Over the next 15 years, however, automobile sales in emerging countries are projected to outweigh the impact of shared transportation.
According to McKinsey’s research, shared mobility will account for about a third of the projected growth in car sales by 2030 from urbanization and macroeconomic growth.