According to a Bloomberg report from October 2019, India sold only 8,000 electric cars in six years. China sells more than that in two days.
In the face of stagnant consumer demand for EVs, it is commercial vehicles that are paving the way for India’s electric revolution.
India’s first all-electric taxi fleet was introduced by Lithium Urban Technologies. Founded by Sanjay Krishnan and Ashwin Mahesh in Bengaluru in 2015, the cab service runs on a business to business (B2B) model, providing employee transportation solutions to companies. This not only helps them bring down costs but also earns them carbon credits. The service is now available in cities across India like Gurugram, Noida, Jaipur, Hyderabad, Mumbai, Pune and Manipal, and has raised over 20 million dollars in investment.
Blu Smart, India’s first on-demand electric taxi service, was launched in Delhi in 2019. Founded by Punit Goyal, Puneet Singh Jaggi and Anmol Singh Jaggi, it raised US$ 3 million in its first round of angel investments and has garnered support from Bollywood star Deepika Padukone who invested in the venture. “What smartphones did to landlines, electric vehicles will do to petrol and diesel cars,” Goyal tells ThePrint, adding that Blu Smart strives to be the “Ola-Uber” of electric vehicles. “Ola and Uber have done a great job, but we start where they left off.” Aiming to increase its fleet size to 5,500 in Delhi NCR by the end of 2020, Blu Smart is increasing its fleet by one car every 12 hours.
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