EV mobility player Oye Rickshaw! announced that it is planning to launch its operations in 25 new cities and deploy 100,000 commercial EVs by the end of this calendar.
According to a press release from the company, these initiatives, if fulfilled, will help the company achieve annual revenue of INR 450 crore.
The company recently launched its services in Kanpur and aims to expand to 25 cities this year, starting with Jaipur, Lucknow, and Meerut. With an aggressive geographical expansion plan intact, the company aims to complete 60 million rides and deliveries in the year 2022.
With 10,000+ e-rickshaws, the Delhi-based micro-mobility company currently offers its services in six cities and completed six million rides and deliveries in 2021.
Mohit Sharma, Co-Founder, Oye! Rickshaw, said, “Through our rideshare and delivery model, we have directly impacted in reducing 1.5 million tonne of GHG emission by the end of 2021. With our forward-looking approach, we are focused to work towards building a bigger, better and sustainable business that has a multiplier effect on society and the environment.”
The company completed over 3.5 million deliveries to the direct customers of Flipkart, Udaan, Grofers and Jiomart in 2021. In addition, its third business offering - battery swapping, plans to scale to 600+ stations and over 10k vehicles by the end of 2022.