Indian company Lithium Urban Technologies which is the largest fleet operator of electric vehicles (EVs), has acquired 100% stake in SmartCommute which is a software-as-a-service (SaaS) platform that provides end-to-end transportation services to corporate employees. This was told by a senior company executive to ET Auto in an interview.
With this acquisition the fleet operator forayed into the SaaS domain as a new business vertical to scale up its presence in the multi-billion dollar corporate employee transportation industry.
Sanjay Krishnan, Founder of Lithium Urban Technologies said that – “Until now, the team at Lithium was into analytics as the technology was used as a means to achieve efficient logistics for our fleet. We never sold software-as-a-service to our clients. We are now foraying into SaaS as a new vertical that will help us better capitalise on the potential of EVs in corporate employee transportation once the market bounces back to normal.”
On the other hand, Ajit Patil, co-founder, SmartCommute said – “SmartCommute was managing about 30,000 – 35,000 employee rides daily before COVID-19. We have more than 3,000 vehicles on the platform and we have handled employee transport for several large IT companies across more than 10 cities in India.”
SmartCommute will have Lithium Urban’s EV fleet on its platform enabling it to offer the corporate emission-free rides whereas Lithium Urban will gain access to the SmartCommute’s customers and to new segments including freight and rapid bus transit, and a large fleet of internal combustion engine (ICE) vehicles.