EVeez Witnesses 5X Growth This Year, Forays Into Bengaluru To Expand Its Operations
Eveez has witnessed an exemplary growth of 5X this year, increasing its fleet from 700 eBikes to 3500 eBikes and adding Bengaluru to its operations. Going forward, EVeez aims to maintain its growth momentum and is projecting to grow 5X in the coming FY 2024 as well. The company also has plans to expand to newer cities like Chennai, Chandigarh, Ahmedabad, and Pune.
The startup has very recently collaborated with Ev2 Ventures, a smart, sustainable mobility-focused venture capital fund, and HSBC India to host a networking initiative on electric mobility - ‘Electric Mobility Mixer’ on March 29, 2023, at Le Meridien, Gurugram. The event brought together industry leaders, startup founders, key stakeholders, and senior members from the venture capitalist and EV communities to discuss the relevance and future role of electric mobility in the country.
Speaking about the growth, Gaurav Rathore, CEO & Founder, EVeez, stated that, "the EV business has shown immense growth in the past few years. Being the first of its kind in this industry, we had to keep up our growth despite headwinds such as regulatory challenges and supply chain issues. We nurture the EV category like a tender sapling, and today we are really glad to talk about the 5X Y-o-Y growth that we achieved. Achieving a historic high growth rate under such extraneous factors was no mean task and is a solid example of the grit and determination of team EVeez. Our special thanks to our customers, strategic partners, and our EV network to make this happen."
Abhishek Dwivedi, COO & Founder, EVeez further added, "EVeez has 2000+ individual and gig riders aboard and works with over 150 small businesses and about 15+ logistics companies and fleet operators. We started with 700 eBikes and today we have 3500+ eBikes on the road. Currently, we have our footprints in cities like Delhi NCR, Hyderabad, Bangalore, and Kolkata, but we are expanding our wings to Chandigarh, Chennai, Pune, Mumbai, and Ahmedabad with 20,000+ e-bikes by the end of FY 2024. We will continue to focus on nurturing the gig rider ecosystem by enabling them to join the workforce with freedom and flexibility; without the need for any intermediaries.”
A panel discussion was also organised during the event, which was moderated by Dr. Sunil Shekhawat on the topic "Electric Mobility: A 360-Degree Perspective". It provided attendees with an all-round outlook of the electric mobility ecosystem, not only from leading industry experts but also from venture capitalist funds and banks in this ecosystem. The panellists discussed the emergence of new technologies, innovative business models, and robust funding for electric mobility and how they continue to be a driving force in the EV sector's growth. The event was a great opportunity to take stock of the year gone by and discuss the future.
The panel discussion witnessed renowned industry leaders, including Prateek Nijhawan, Managing Partner at SailThru Ventures; Karann Mittal, Partner, EV2 Ventures; Atul Arya, Head of Energy Systems Division at Panasonic; Jaideep Singh Kalra, Director & Head of Business Banking at HSBC Bank; and Kapil Mahajan, Partner at AKM Global.
Furthermore, Gaurav Rathore also shared his thoughts on the financial year 2023 and how it has been a watershed year for EV adoption, especially through electric mobility as a service (eMaaS). He thanked the customers, small business owners, logistics and fleet operators, and OEM partners for their tremendous support and contribution to EVeez's growth. Moreover, he also took the opportunity to thank financial partners and platforms such as OTO Capital, Gripinvest, Leaf Round, Alt mobility, WheelsEMI, and Ecofy for playing a significant role in financing/leasing eBikes. He further expressed confidence in continuing to work with NBFCs and mainstream banks to meet fleet requirements in FY 24.
Overall, he emphasised that EVeez is poised to grow at 5X and be a leader towards a sustainable and eco-friendly future, which is also in line with the Government’s and Prime Minister’s EV transition goals of selling only 100% electric vehicles by 2030.
