Zyngo EV Mobility Pvt., a third-party logistics provider (3PL) based in Delhi-NCR. Ltd. announced they would be exponentially growing the company’s active fleet to include over 18,000 electric cars for last-mile deliveries in India. FY 2022-22. Zyngo is leasing/sourcing these delivery vehicles from some of the country’s top OEMs like Hero Electric, Piaggio and Omega Seiki Mobility. Zyngo has been partnering closely with these OEMs based on solid and reliable SLAs where the OEMs cover all maintenance and servicing. Simultaneously, Zyngo will be looking to enter newer geographies while also scaling its B2B customer-cum-logistics-partner portfolio by more than 10x within the next one year or so. Zyngo is a trusted partner in logistics delivery for many of the most reputable e-grocery brands and ecommerce companies in the country, such as BigBasket and JioMart.
Zyngo currently has fleets in Delhi-NCR, including Gurgaon and Noida, Noida and Ghaziabad. They also have fleets in Mumbai, Hyderabad and Jaipur. In the current fiscal they will be launching operations in Pune and Ahmedabad. Zyngo currently delivers approximately 3 lakh units per month using its all-electric fleet, which includes 850+ 2W EVs and 3W EVs. The last fiscal was i.e. Zyngo’s FY 22 fiscal saw an Annual Revenue (ARR), of INR 9 crore. The company also experienced a 6x increase in revenue over the past year. The company now targets to reach an impressive ARR of INR 100 Crore for FY 23.
Prateek Rao (Founder & CEO Zyngo EV Mobility) spoke about the latest developments. “We are proud that Zyngo’s unique asset-light model for hyperlocal logistic, in partnership with top OEMs of the nation, is today playing a pivotal part in catering to a variety of B2B and B2C customers, by optimally utilizing technology alongside new-age strategies and innovations with regard to fleet management. Zyngo is currently working to expand its fleet by as much as 18000 electric vehicles by the end of FY 23. We are aiming to deploy 10,000 EVs in various locations by November 2022 and the remainder by March 2023 to meet market demand and increase our business propositions 10x. Zyngo’s ecosystem will provide an environment that allows for seamless, pollution-free delivery to its customers at affordable prices. It also plans to drive the green movement in logistics and delivery space using its EV fleets.
According to industry estimates, India’s hyperlocal delivery market will grow more than 12x by 2024 and India’s ecommerce market will expand approximately 6x per year. Zyngo plans to capture at least 35% of India’s hyperlocal ecommerce logistics market by 2024, and will increase its fleet size as well as footprints throughout India. They will do this by expanding Zyngo’s leadership in EV logistics space to emerging and booming sectors such as food-tech and online-commerce.
Zyngo currently holds the title of Delhi-NCR’s largest fleet service company. It has the highest number of active fleets in the e3W segment and also the most e3W L5 Cargo EVs deployed in India by any 3PL company. Zyngo is also Amazon Fresh’s largest EV-fleet seller in India. It is responsible for managing 47 percent of Delhi-NCR’s delivery business. Zyngo’s goal is to have at least 1 million zero-emission electric vehicles in India by 2025. This will help India meet its climate and sustainability goals. Zyngo plans to launch a B2C app that will enable customers to access the entire Zyngo fleet via an intuitive, robust tech platform. This app is available for both Android and IOS users.