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Zypp Electric plans to capture 20-25% of the EV fleet market in 5 years by deploying 500,000 electric vehicles.
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The company aims to scale up to 50,000 electric two-wheelers by FY25 and 1.25 lakh by FY26.
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Zypp Electric plans to enter Tier II cities and expand globally to South-east Asia, Africa, EMEA, and the Middle East.
Zypp Electric, a last-mile delivery provider, aims to capture a significant share of the electric vehicle (EV) fleet market in India. The company plans to deploy 500,000 electric vehicles over the next five years, targeting 20-25% of the market share. Currently, Zypp Electric has deployed 22,000 electric two-wheelers and plans to scale up to 50,000 by the end of FY25 and 1.25 lakh by FY26.
Zypp Electric’s business model focuses on addressing key challenges in the EV market, including providing the right vehicles, establishing charging infrastructure, hiring and training skilled drivers, and ensuring proper vehicle maintenance. The company’s rental-based system eliminates the need for delivery executives to purchase vehicles outright, addressing financial challenges.
As part of its expansion plans, Zypp Electric aims to enter Tier II cities and explore global markets in South-east Asia, Africa, EMEA, and the Middle East. The company also plans to go public with an IPO in two years, once it scales up to 200,000 electrified vehicles on the road.
