Electric Vehicle Rental and Ride sharing startups in India

Superior technology has surely helped in a variety of ways. It’s difficult to think of a subject where technology hasn’t had an influence. Technology has made an impact, particularly in online rental services and booking companies. Electric vehicles are the future and rental or ride sharing startups are on the rise due to their low operational costs and zero pollution.

As more people use Ride sharing services, the growing popularity of shared mobility is expected to reduce the harmful carbon emissions. However, automobile sales in developing countries are likely to outpace the effect of public transit during the next 15 years.

There are around 399 electric car startups in India. Last year, the USD 118 Billion Indian vehicle sector experienced massive losses as a result of the COVID-19-induced lockdown that was enacted throughout the country. Growth in the automobile industry declined again in the second half of 2020, owing to increased gasoline costs, as sales restarted following the lifting of the lockdown.

In India, the ride-sharing business has a long way to go and is predicted to grow at a CAGR of 20% from 2020 to 2025, whereas the EV Industry is expected to grow at a CAGR of 44% between 2020-2027 and is expected to hit 6.34 million-unit annual sales by 2027.

Electric vehicles are indeed the future of mobility, and the Indian government, like the rest of the globe, is doing its part by subsidizing electric automobiles and offering incentives for electric vehicles.

Why Should You Use Electric Vehicles for Ride sharing?

Green / no toxic emissions / and ecologically friendly
There is no reason to be concerned about an increase in fuel costs.
Less maintenance cost
Interesting/exciting for new IoT technologies
No noise pollution

We have compiled a list of Indian electric vehicle rental & ride sharing companies that offer EV ride-sharing services in India. These EV rental firms hire out electric automobiles, electric bikes, and electric bicycles.

Yulu Bikes

Yulu Bikes is a ride-sharing and e-mobility startup. The Indian electric bike rental startup has forged a strategic partnership with Bajaj Auto and garnered $8 million in finance.

Yulu Bikes, a Bangalore-based electric bike-sharing firm that collaborates with Uber, said today that it has obtained backing from one of the country’s leading manufacturers. Yulu is also aggressively expanding its presence in the country.

Adani Electricity and Yulu has planned to install 500 battery swapping stations in Mumbai till the end of 2022.

yulu bike ride sharing

“Yulu has been very instrumental in creating a livelihood for the marginalized in this country,” says Gupta pointing out that the company has been able to offer a mobility solution that plugs the last mile at an affordable way in a sustainable manner

The whole model – which allows users the flexibility to “pay as you use” basis leaving aside the headache related to ownership including maintenance, EMI, etc fits very well with the complex delivery and supply chain mechanism of e-commerce firms.

Yulu’s mission is to make urban transportation in India more accessible, shared, and sustainable. What began as a project to alleviate traffic congestion and pollution in Indian cities is now reshaping urban mobility throughout the country. By making urban commutes more effective and environmentally benign, the firm enables citizens in Indian cities to lead a paradigm shift in the transportation sector.

Blu Smart

Blu Smart is India’s all-electric ride-sharing services firm headquartered in Gurugram. Blu smart E-mobility offers electric vehicles for a more efficient, cheap, and sustainable transport solution. They are planning to expand their fleet in 6 cities of India. The company has received $25M series A funding

blusmart mobility car rental

The objective is to hasten the deployment of electric vehicles by establishing a dependable charging infrastructure environment. As a result, Blu smart is constructing new hubs in numerous areas of Delhi, including South Extension and Dwarka, to increase EV last-mile connectivity..

Hoppr

Hoppr is a Mumbai-based electric bike share firm. Hopper e-bikes are designed with technology that not only gets you from point A to point B, but also does it in the most efficient, convenient, and ecologically responsible way possible.

hoppr electric bike rental

Hopper is dedicated to developing a solution for your everyday commute that is better for your budget, neighbourhood, and community.

Bounce

Bounce is an electric two-wheeler ride-sharing startup founded in Bangalore that operates in Bangalore, Hyderabad, Mysore, Vadodara, Vijayawada, and Jaipur.

Bounce, India’s first smart mobility solution, is a ride-sharing business whose objective is to make daily commutes stress-free, time-saving, dependable, and convenient.

bounce ride sharing

According to a tweet from bike-sharing firm CEO and co-founder Vivekananda Halekre, the Indian ride-sharing mobility startup Bounce-e has also started in the Indian market. Bounce, like Yulu and Vogo, has developed significantly over the years and looks to be investing in an electric future, as are these firms.

E-Savari

Some things are supposed to seem different, to be diversified, and yet to have a positive influence on our lives. E-Savari, based in Indore, Madhya Pradesh, is a concept that has affected the future of e-mobility. e-Savari, which was founded in 2017 to improve e-mobility penetration in the country, aims to reinvent the way e-vehicles are regarded and addressed today.

E-savari is in the business of electric rickshaws, which are utilised for ferrying passengers or carrying cargo, thanks to its strong leasing-cum-ownership strategy. In any case, e-Savari offers premium e-rickshaw solutions to individuals who wish to develop in their different enterprises with the least amount of financial resources.

Orix Auto Infrastructure Services + Tata Motors

Tata Motors debuted the Nexon electric SUV in December 2019, and now the company has launched a “first-of-its-kind” subscription scheme for this small SUV, allowing customers to rent it for a set monthly rate. The notion of a car subscription model is still gaining traction in India, and Tata may use it to boost the potential of electric vehicles in the near future.

Tata Motors has partnered with rental provider Orix Auto Infrastructure Services to create the E-mobility Rental service. At the moment, this option will be available in just five metro cities: Delhi, Mumbai, Pune, Hyderabad, and Bengaluru.

An Understanding on why Leasing an EV is a Better Option

As the sticker price of new cars continues to rise, more drivers are opting to lease rather than buy. Because lease payments are calculated primarily on how much the car’s value will depreciate over the contract duration, leasing an EV often requires a lower down payment and lower monthly payments than financing a brand-new vehicle. Furthermore, any central or state tax credits are generally included to the sale price, significantly decreasing the monthly lease payments.

If you know any electric vehicle rental and ride sharing startup & want us to feature them in this article, click here.