MUMBAI: Matrix Partner-backed electric mobility firm Oye Rickshaw said on Tuesday that it plans to deploy more than 1,00,000 e-rickshaws and expand operations to 25 new cities by this year. With over 10,000 e-rickshaws, the micro-mobility company offers its services in Delhi NCR, Uttar Pradesh and Haryana.
As 2022 will be the year to build and enhance India's electric vehicle ecosystem, Oye Rickshaw is building a future-proof electric mobility ecosystem that is tailored to the needs of cities and towns across India through its three services: transportation, delivery and energy infrastructure, the company said in a statement.
It added that Oye Rickshaw is set to launch operations in 25 new cities along with the deployment of 100,000 commercial electric vehicles by 2022 to achieve the target annual operating rate of INR 4,500 million.
The company said it completed more than 3.5 million direct-to-customer deliveries for some of the country's top e-commerce players in 2021.
The company noted that Oye Rickshaw's third commercial offering, Battery Swap, plans to expand to more than 600 stations and cover more than 10,000 vehicles by the end of 2022.
The company said in a statement that it completed six million flights and 3.5 million deliveries in 2021 alone and plans to complete 60 million flights and deliveries this year.
It added that the company recently launched its services in Kanpur and plans to expand to 25 cities this year, starting with Jaipur, Lucknow and Meerut, among others.
“With our forward-looking approach, we focus on working to build bigger, better and more sustainable businesses that have a ripple effect on society and the environment.
“The sole purpose of the company is to build an efficient and future-proof ecosystem around the e-rickshaw to solve the challenges of micromobility in travel and delivery,” said Mohit Sharma, co-founder of Oye Rickshaw.
Founded in 2017 by alumni of IIT-Delhi and alumni of NIT-Allahabad Akashdeep Singh, Oye Rickshaw is a Tier A funded company, with investments from Matrix Partners, Chiratae Ventures, Pawan Munjal and Xiaomi.
It brings together public transport passengers and electric rickshaw drivers of e-rickshaws on one platform, according to the release.