Mumbai, Electric vehicle rental service operator eBikeGo on Tuesday said it plans to expand its e-two-wheeler fleet to 1 lakh units by fiscal 2026 amid the fast-growing last-mile and e-commerce segments. .
Domestic last-mile delivery and e-commerce business is expected to grow at 6.4 per cent by the first quarter of 2024. As direct-to-consumer delivery has become the need of the hour and an indispensable asset, fuel affordability at the two-wheeler current price point raises a question.
“eBikeGo is poised for substantial growth with plans to increase its 2-wheeler electric vehicles (EV) fleet to over 1,00,000 by the end of the next financial year. Established a strong presence in seven metropolitan cities over the last three years "After doing so, the company now aims to expand its operations to include Tier I and Tier II cities across the country," the company said in a statement.
According to eBikeGo, the hyperlocal delivery segment is expected to grow at a compound annual growth rate (CAGR) of approximately 16.14 percent from 2024 to 2029, resulting in an estimated market volume of US$92.50 billion by 2029.
It said hyperlocal delivery models are penetrating deeper into tier II and III cities as well as rural areas.
“After the success in metropolitan cities, we now focus on expanding our expertise to Tier I and Tier II cities,” said Irfan Khan, Founder and CEO, eBikeGo.
Founded in 2019, eBikeGo currently manages a fleet of over 3,000 eBikes, providing services to businesses like Zomato, Swiggy and other FMCG brands across major metropolitan cities.
Domestic last-mile delivery and e-commerce business is expected to grow at 6.4 per cent by the first quarter of 2024. As direct-to-consumer delivery has become the need of the hour and an indispensable asset, fuel affordability at the two-wheeler current price point raises a question.
“eBikeGo is poised for substantial growth with plans to increase its 2-wheeler electric vehicles (EV) fleet to over 1,00,000 by the end of the next financial year. Established a strong presence in seven metropolitan cities over the last three years "After doing so, the company now aims to expand its operations to include Tier I and Tier II cities across the country," the company said in a statement.
According to eBikeGo, the hyperlocal delivery segment is expected to grow at a compound annual growth rate (CAGR) of approximately 16.14 percent from 2024 to 2029, resulting in an estimated market volume of US$92.50 billion by 2029.
It said hyperlocal delivery models are penetrating deeper into tier II and III cities as well as rural areas.
“After the success in metropolitan cities, we now focus on expanding our expertise to Tier I and Tier II cities,” said Irfan Khan, Founder and CEO, eBikeGo.
Founded in 2019, eBikeGo currently manages a fleet of over 3,000 eBikes, providing services to businesses like Zomato, Swiggy and other FMCG brands across major metropolitan cities.
