Wise Travel India Ltd, a provider of B2B transport solutions, intends to incorporate 1,000 electric vehicles into its fleet this year as part of its broader commitment to sustainable mobility, according to Ashok Vashist, the founder and CEO.
The company is extending its operations into tier II cities across India such as Chandigarh, Jaipur, Coimbatore, and Indore, while also eyeing international expansion into countries like Saudi Arabia and those in the Far East.
“Our primary focus this year is on sustainability, with the inclusion of electric and bio-CNG vehicles. We already possess over 300 electric cars, and this year, we plan to introduce over 1,000 electric cars and buses,” Vashist informed PTI.
The company, operating under the WTicabs brand, also incorporates third-party and individually owned vehicles into its fleet. Vashist specified that most of the new electric vehicles will be company-owned.
Regarding investment for this initiative, Vashist mentioned, “We plan to invest approximately Rs 50 crore in these vehicles, with a combination of debt and equity.”
For the electric vehicle initiative, Vashist outlined plans to install solar panels at major hubs like Bengaluru and Delhi to generate renewable energy for charging.
In addition to electric vehicles, the company is exploring sustainability through bio-CNG and hydrogen. Vashist expressed the company’s intention to commence passenger transport using bio-CNG fuels, emphasizing its sustainability.
WTicabs currently operates a fleet of approximately 8,000 vehicles and serves over 700 corporate clients with 17 airport counters across the country.
In terms of international expansion, Vashist mentioned the company’s recent establishment in Dubai and its plans to expand into Saudi Arabia and other Far East countries.
In India, the company aims to expand into tier II cities while consolidating its position in major metros. Vashist noted the growing corporate presence in tier II cities like Jaipur, Coimbatore, Indore, and Bhubaneswar, indicating increased demand for transportation services in these areas.
Looking ahead, WTicabs plans to explore new avenues of mobility for future growth, including corporate commute services and B2C arrangements for residential condominiums.
In terms of revenue, the company reported a turnover of Rs 409 crore for FY24, up from Rs 250 crore in FY23. For FY25, Vashist anticipates a growth rate of at least 30-35%, consistent with the company’s historical performance.
