eBikeGo eyes EV two-wheeler fleet expansion to 1 lakh
eBikeGo, an electric vehicle rental service, has announced plans to expand its electric two-wheeler fleet to one lakh units by FY26. This decision is driven by the rapid growth in the last-mile delivery and e-commerce sectors, which have seen a growth rate of 6.4% as of Q1 2024. The company aims to tap into the hyperlocal delivery segment, which is projected to grow at a CAGR of approximately 16.14% from 2024 to 2029.
eBikeGo to extend presence to tier I and II cities
eBikeGo has established a strong presence in seven metropolitan cities over the past three years. The firm now aims to extend its operations to tier one and two cities across India. Founder and CEO of eBikeGo, Irfan Khan, noted the increasing penetration of hyperlocal delivery models into tier two and three cities, as well as rural areas. He stated, "After success in metropolitan cities, we now focus our expertise to expand to tier I and II cities."
Current operations and services
eBikeGo was established in 2019 and currently operates a fleet of over 3,000 electric bikes. The company provides services to businesses like Zomato, Swiggy, and other FMCG brands in major metropolitan cities. The expansion strategy of eBikeGo is backed by projections for the hyperlocal delivery segment, which could result in a possible market volume of $92.50 billion by 2029.
