Moto Business Service India (MBSI), a Yamaha Motors leasing company, announced a partnership with FullFily in Chennai, which marks its entry into asset management services for electric two- and three-wheelers.
Under this partnership, MBSI will manage electric two and electric three-wheelers of FullFily, an end-to-end electric-as-a-service and delivery-as-a-service platform.
FullFily’s collaboration marks the beginning of operations in the electric vehicle segment in Chennai, managing director of MBSI Shoji Shiraishi stated in a statement.
“India is seeing rapid growth in sales of electric vehicles (EVs) as manufacturers and users rush to switch from gasoline-powered vehicles due to the rising cost of fuel. We will continue to onboard electric vehicles across multiple cities and generate employment avenues for the youth of India,” he added.
MBSI intends to work with more mobility businesses in the future, Shiraishi stated. Shiraishi also said that the company plans “to transform India’s shared mobility sector by bringing together our financial and strategic expertise from our stakeholders”.
Ashok Viswanathan, CEO of FullFily and Founder said that the partnership with MBSI will allow FullFily to expand its reach across Chennai.
“Over the next few months, we will rapidly expand our partnership across South India by partnering with more companies to provide our solutions and to accelerate this electric revolution,” he added.
Viswanathan stated that FullFily also plans to leverage its strategic alliances in order to increase access to infrastructure and fleet for Tier II and II markets, as well as the small and medium-sized business space, which is severely under-served.
MBSI stated that the partnership will cover 50 units of Omega Seiki Rage+ electric three-wheelers and 200 units of Hero NYX Electric two-wheelers. In the coming months, FullFily and other partners will manage an additional 2,000 vehicles in Tamil Nadu.