BluWheelz To Invest USD 15 Million To Acquire 10,000 E2Ws And E3Ws

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BluWheelz, a provider of electric vehicle fleets, said that it will invest USD 15 million to acquire 10,000 electric two-wheelers as well as three-wheelers to provide last-mile delivery. 

The company launched its EV fleet in service (EFaS). It will initially own the vehicles and offer services to e-grocery, e-commerce, FMCG and logistics companies.

BluWheelz founder Chanpreet Sethi stated that the company will also employ around 11,000 people, mainly as delivery partners.

He stated that EVs would be a fleet in which we own the vehicle and have riders on our payroll. The charging companies are on an integration model pay-as-you-go. We also have financial, maintenance, and financial companies backing us.

BluWheelz is a complete platform that will serve the needs of shippers. It will deploy approximately 10,000 electric two-wheelers and electric three-wheelers for fleet service and last-mile delivery.

Sethi stated, “In the beginning, it is a quite capital intensive, asset-heavy model where we’d have to employ most of the vehicles.” He said that the company would invest between USD 10-15 million each year.

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He said that the startup was currently self-financed and has been supported by investors, including former President of Coca-Cola India, Sanjiv Gupta.

He stated that the company will hire approximately 11,000 people in the next year. This includes over 1,000 riders and backend workers.

He said that the company will initially be focusing on Delhi-NCR, North India and then expand to other markets. Sethi stated that BluWheelz is in talks to partner with four other EV makers and has already partnered with EV maker e-Ashwa to procure electric vehicles.

He said that customers are his priority and that he had a mandate from Delhivery. They also talk with BigBasket, as well as Ecom Express. Sethi stated that BluWheelz will become an aggregator when it reaches a critical mass by 2025-26.

It will assist in obtaining financing and businesses for all who want to switch from internal combustion engines to electric vehicles.

He also stated that the goal is to have one lakh vehicles on its platform and to expand its reach to smaller towns and tier III and IV municipalities.

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