TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
More
    HomeEV NewsBluWheelz to invest USD 15 mn in a year to deploy 10,000...

    BluWheelz to invest USD 15 mn in a year to deploy 10,000 EVs

    Electric vehicle fleet provider BluWheelz on Tuesday said it plans to invest up to USD 15 million (about Rs 120 crore) in one year to deploy around 10,000 electric two and three-wheelers for last-mile delivery.

    The company, which launched its EV fleet as a service (EFaS) operations on Tuesday, will initially own the fleet vehicles and provide services to e-commerce, e-grocery, FMCG, logistics, and D2C companies. It will also hire around 11,000 people, mostly as delivery partners, BluWheelz Founder Chanpreet Sethi said.

    ”We’d be putting EV as a fleet wherein we own the vehicle, we have the riders on our payroll, we have the charging companies on an integration pay-as-you-go model, as well as the maintenance and financial companies on our backing,”.

    BluWheelz aims to offer a complete ecosystem, a platform, which would serve the needs of the shipper and will deploy around 10,000 electric two and three-wheelers to offer fleet service for last-mile delivery.

    ”In the start, it is quite a capital-intensive business, asset heavy model, where we’d be employing most of the vehicles,” Sethi said. When asked how much investments the company will make, he said it will be ”between USD 10-15 million in the first year itself”.

    Backed by investors including ex-Coca Cola India President Sanjiv Gupta, the startup is at present self-financed, he said. In terms of manpower, he said the company would hire around 11,000 individuals in next one year, including over 1,000 on the backend and then the riders.

    The company will initially focus on Delhi-NCR and North India before expanding to other markets, he added. Sethi said BluWheelz has tied up with EV maker e-Ashwa for procurement of electric vehicles and is also in talks with four other EV manufacturers for partnership.

    As for customers, he said,” We have already a mandate from (logistics firm) Delhivery and are talking with BigBasket and, Ecom Express.” On the long-term strategy, Sethi said when a critical mass is achieved by around 2025-26, BluWheelz would become an aggregator.

    It will also help all those who would want to change from internal combustion engines to EVs by assisting in getting finances and businesses. Besides, he said the aim is to have 1 lakh vehicles on its platform and expand its reach to smaller towns, tier III and IV cities.

     

    Related Post

    Most Popular

    Best Picks

    Aimil Ltd.: Setting the Benchmark for Instrumentation Solutions at Auto EV India 2023

    Aimil Ltd., an ISO 9001:2015 certified company with a heritage tracing back to 1932, holds a prominent position as a leading provider of cutting-edge...

    Electrify Your Future: A Thriving Career in the E-Mobility...

    In an era where sustainability and innovation reign supreme, the E-Mobility sector has emerged as the driving force behind a transformative shift in the...

    X0115ML, the smallest SCR now supports a surge peak...

    Author: STMicroelectronics The X0115ML is our first compact silicon control rectifier (SCR) for ground fault circuit interrupters (GFCIs) and arc-fault circuit interrupters (AFCIs) that can withstand a...

    Exploring the Future of Electronics: Unveiling the Power of...

    In a recent interview conducted by technology journalist Himanshu Vaibhav of eletimes.com and timesev.com, Dr. John W. Mitchell, President & CEO of IPC, discussed...

    Navigating Defense Challenges: Insights from Chris Peters, USPAE Founding...

    In a recent interview conducted by technology journalist Himanshu Vaibhav from eletimes.com and timesev.com, Mr. Chris Peters, the Founding Executive Director of the U.S....

    Driving Innovation: Cientra’s Leadership in Automotive and Telecom Technology...

    Cientra stands as a prominent leader in the realm of technology solutions. Consistently, they innovate and advance their proprietary technologies to cater to the...

    STM32Wx microcontrollers is an ideal fit for RF designers...

    The STM32Wx microcontrollers enable wireless connectivity supporting the sub-GHz band and the 2.4 GHz frequency range. STM32 Wireless MCUs are highly integrated and reliable...

    Veridify, Overcoming the challenges of OT security in building...

    Despite popular belief, it is possible to secure legacy embedded systems properly, even if they lack today’s iron-clad cryptographic capabilities, the latest protections, or...

    Tsuyo’s Vision for Future Manufacturing: Incorporating Emerging Technologies and...

    Tsuyo Manufacturing is deeply committed to offering highly reliable, robust, and durable products designed to withstand a wide range of exposure and service conditions...

    Must Read