At TechSparks’ Mumbai edition, Zypp Electric Co-founder and CEO Akash Gupta made a bold prediction: electric vehicles (EVS) will represent 50% of the commercial logistics sector by 2028.
Gupta’s insights shed light on the evolving landscape of EV adoption in India, emphasizing the pivotal role of the commercial sector in driving this transition.
EVs Leading Commercial Sector:
Gupta’s optimism stems from his belief that the commercial sector will spearhead EV adoption in India. He foresees a higher penetration rate in commercial logistics compared to personal mobility.
Gupta expresses his aspiration for Zypp Electric to play a leading role in this transformative journey, particularly within its operational segment.
Current EV Landscape:
Currently, EVs account for approximately 10% of the total vehicle population in India, with a significant portion attributed to commercial, last-mile delivery, and personal mobility services.
Gupta underscores the gradual but impactful shift in perceptions towards EVs since Zypp Electric’s strategic pivot in 2018.
Evolution of EV Perception:
Gupta notes a significant shift in attitudes towards EVs compared to 2018 when Zypp Electric transitioned from a bicycle-rental platform to its current model. Today, EVs are viewed as a sunrise sector, attracting talent and interest from individuals eager to join the EV ecosystem.
Zypp Electric’s Operations and Expansion Plans:
Zypp Electric presently operates with approximately 20,000 e-scooters in New Delhi, with expansions planned for Mumbai and Bengaluru. The startup intends to invest approximately Rs 100 crore to bolster its presence in these burgeoning markets.
Partnerships and Collaborations:
In a bid to strengthen its position in the market, Gupta recently met with Uber’s CEO Dara Khosrowshahi during his India tour, exploring opportunities to enhance Zypp’s partnership for e-bike taxis.
Ola has also announced a substantial entry into the e-bike taxi segment, reflecting the growing interest and investment in EV-based mobility solutions.
Conclusion:
As India navigates towards a greener and more sustainable future, the prognostications of leaders like Akash Gupta offer valuable insights into the trajectory of EV adoption.
With Zypp Electric’s ambitious plans and strategic partnerships, the vision of a significant EV presence in the commercial logistics sector by 2028 appears increasingly plausible.
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