Rapido, India’s leading bike, auto, and cab aggregator, has joined IndoFast Energy—a 50-50 joint venture between IOCL and SUN Mobility—to roll out 10,000 of Piaggio’s swappable e-autos, E-city Max, across India over the next 24 months.
The collaboration, which began as a pilot in Bengaluru, Hyderabad, and Delhi in 2023, integrates IndoFast Energy’s swappable battery technology into Rapido’s platform. This integration aims to enhance the accessibility, efficiency, and convenience of EVs for public transport.
The pilot’s success has led to the establishment of 100+ battery swap stations in Hyderabad and Bangalore, enabling auto drivers to minimise downtime and complete faster swaps. Rapido now targets meeting 20% of its daily rides using these swappable electric autos.
IndoFast Energy’s swap stations enable users to exchange depleted batteries for fully charged ones in under two minutes, offering a cost-effective and faster ‘EV refueling’ experience. The pay-per-use model ensures users pay only for the energy consumed. IndoFast Energy also plans to establish 10,000 swap stations across 40+ cities in the next three years to cater to the growing demand for swappable EVs.
Rapido and IndoFast Energy are also exploring high-speed premium two-wheelers and retrofitted three-wheelers to further diversify their eco-friendly ride-hailing solutions.
Pavan Guntupalli, Co-founder of Rapido, stated, 'This partnership significantly boosts our EV offerings, aligning with our sustainability goals. By introducing swappable electric autos, we’re not only cutting emissions but also empowering our drivers with sustainable earning opportunities.”
Anant Badjatya, CEO of IndoFast Energy, said, 'This joint initiative is the result of our successful pilot with Rapido. We are now accelerating deployment across India, including Hyderabad, Bengaluru, Delhi, and Chennai, to further this mission.'
Diego Graffi, Chairman and MD of Piaggio Vehicles, 'As pioneers of three-wheeler electric mobility in India, we have over 50,000 Ape Electrik vehicles operating nationwide. By partnering with Rapido and IndoFast Energy, we plan to deploy over 10,000 swappable EVs in the next 24 months. The swappable battery solution offers minimal downtime, cost-effectiveness, and promises a bright future for EVs in India.'
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