Oye! Rickshaw looks to scale 10X, expand operations in 25 cities this year
Oye Rickshaw!, the largest and fastest-growing EV mobility player in India, is set to launch its operations in 25 new cities along with deploying 100,000 commercial EVs by the 2022 year-end to achieve the annual revenue run rate target of Rs 4500 million.
E-rickshaws have emerged as a winning transition to the electric mobility race in India over the last few years. With 10,000+ e-rickshaws, the Delhi-based micro-mobility company offers its services in 6 cities of Delhi NCR, UP and Haryana that have successfully completed 6 million rides and deliveries in 2021 alone. The company recently launched its services in Kanpur and aims to expand to 25 cities this year in the upcoming months, starting with Jaipur, Lucknow, Meerut among others. With an aggressive geographical expansion plan intact, the company is aiming to complete 60 million rides and deliveries in the year 2022.
“Through our rideshare and delivery model, we have directly impacted in reducing 1.5 million tons of GHG emission by the end of 2021. With our forward-looking approach, we are focused to work towards building a bigger, better and sustainable business that has a multiplier effect on society and the environment. The sole purpose of the company is to build an efficient future-ready ecosystem around e-rickshaw to solve micro-mobility challenges in ride and delivery by providing safe, convenient, affordable, eco-friendly short-distance transportation through EV adoption & building cost-effective energy distribution channel that eventually helps millions of e-rickshaw drivers increase their net take-home earnings.”, said Mohit Sharma, Co-Founder, Oye! Rickshaw.
With 2022 set to be the year of building and strengthening the Indian EV ecosystem, EVs have become an integral part of the mobility landscape not just for daily commute but also for the last mile deliveries. Oye! Rickshaw is building a future-ready electric mobility ecosystem best suited to the needs of cities and towns across India through its three services: rides, deliveries and energy infrastructure. The company has completed over 3.5 million deliveries to the direct customers of Flipkart, Udaan, Grofers, Jiomart etc. in 2021. Oye! Rickshaw’s third business offering – battery swapping plans to scale to 600+ stations and scale to over 10k vehicles by end of 2022. The last year witnessed the startup having established over 100+ stations as of today for 1000+ driver-partners and completed 5 million swap KMs.
Oye! Rickshaw aims to build an effective, organised & sustainable ecosystem around e-rickshaw to address hyperlocal mobility, logistics and energy challenges while empowering millions of e-rickshaw drivers to live better lives. Being the only EV company aspiring to build an end to end ecosystem around e-Rickshaws.
