eBikeGo aims to grow e-two-wheeler fleet to 1 lakh units by FY26
As of the first quarter of 2024, the domestic last-mile delivery and e-commerce sector is expanding by 6.4 percent
New Delhi: Electric vehicle rental services operator eBikeGo on Tuesday said it plans to expand its e-two-wheeler fleet to 1-lakh units by FY26 amid a rapidly increasing last-mile and e-commerce segment.
The domestic last-mile delivery and e-commerce business is growing at 6.4 per cent as of the first quarter of 2024. As direct-to-consumer delivery becomes the need of the hour and a compulsory asset, the affordability of a fuel two-wheeler at the current price point raises a question.
“eBikeGo is poised for substantial growth with plans to increase its fleet of 2-wheeler electric vehicles (EVs) to over 1, 00,000 by the end of next fiscal year. Having established a robust presence in seven metropolitan cities over the past three years, the company now aims to broaden its operations to include tier I and tier II cities across the country,” the company said in a statement.
According to eBikeGo, the Hyperlocal delivery segment is expected to grow at a Compounded Annual Growth Rate (CAGR) of approximately 16.14 per cent from 2024 to 2029, resulting in a projected market volume of USD 92.50 billion by 2029.
Hyperlocal delivery models are also penetrating deep into tier II and III cities, as well as rural areas, it added. — PTI