Startups Leading The Path To Electric Mobility In India Attracts Investors

Taking the COVID-19 situation into account and venturing into the Electric Vehicles industry several shared mobility companies are selling off their old stock. Recently, at a ground in KR Puram a video of Drivezy scooters was doing rounds on social media. The video showed over 100 vehicles parked.

Vespa which had run for only 127 km and was put for sale was also shown in the video. However, the company spokesperson was unavailable for comment.

The same way other startups are also moving.

Bounce, the Bengaluru-based scooter rental startup is also bringing in new inventory and has decided to sell around 1,500 of its bicycles in Bengaluru and Hyderabad at just Rs 800 plus a Rs 100 delivery charge in May.

In addition to this, around 500 fuel-based scooters were also being sold starting from Rs 17,000 for a TVS Scooty Pep to Rs 38,000 for a Honda Activa.

“We are selling our fuel scooters to reinvest in the electric fleet. We have sold a good number of fuel scooters already,” said a Bounce spokesperson.

The company had confirmed to The New Indian Express that they too were moving in the same direction through startup VOGO did not share any numbers.

Anand Ayyadurai, Co-founder and Chief Executive Officer at VOGO, “We’re strengthening our commitment towards electric mobility, we have outlined a fresh roadmap to increase EVs on our fleet and have plans to phase out petrol scooters to create more space for them. We already have over 200 electric scooters on our fleet and will be adding significantly more in time to come.”