Yamaha Motors’ leasing company – Moto Business Service India (MBSI), announced its entry into the City of Pearls – Hyderabad for 2-Wheeler Asset Management Services by partnering with Electriq, a Hyderabad based all electric 2-W EV vehicle company. The launch of the partnership is with 1250 units of E- scooters and 50 units of E-cycles. The vehicles will be taken on rent by delivery executives / riders from Swiggy and Zepto – for short distance deliveries. Electriq has an IT, web & app-based platform to track vehicles and riders. The vehicles used by Swiggy & Zepto riders are installed with smart IOT devices that enable real- time location for vehicles and riders. Yamaha plans to manage 5000 more vehicles across Hyderabad & other cities with Electriq during this fiscal year.
MBSI provides vehicle leasing and other support services for tech startup companies that focus on the shared mobility space in India. This is MBSI’s 14th investment in 2022. Their first investment was with Royal Brothers-India’s leading bike rental company, followed by Rentelo- a 2-wheeler rental platformer in Bengaluru, they also invested in Malbork – a Bengaluru based all electric sustainable energy powered vehicle service company and Rapido – a 2W/3W ride hailing platform. Their other investments include Mother POD, Fae Bikes, Scoo EV, Soujanya Travels and more. MBSI has also partnered with last mile delivery companies in Delhi, Chennai and Bengaluru.
MBSI’s mission is to increase the usage of vehicles on shared/rental platforms, create employment opportunities and contribute towards improving people’s quality of life in India. Over the past year, MBSI has managed over 3500 assets and plans to invest 100 Crore INR in vehicles they manage in 2023. The company targets to manage 1 million vehicles by 2028. The company aims to generate higher levels of employment for the Indian youth, empower more women to earn their livelihood and to support the business growth of mobility platforms with a keen focus on maintaining a cleaner and greener environment in the country.
MBSI will also procure ICE and EV’s – Two, Three and Four wheelers: Two and Three wheelers will be deployed on delivery / rental platforms, last mile delivery companies, taxi aggregators employee transportation companies. These vehicles will be taken for rent by individuals, cab drivers and delivery executives at an affordable monthly lease value, which in turn ensures regular income and the agenda of creating employment. MBSI will also explore the opportunities to work with last mile delivery platforms, especially with the companies who are keen on deploying EV – 2W/3W/4W across India.
Mr. Shoji Shiraishi, Managing Director, MBSI said, “We are extremely excited to officially kick start our operations in the EV sector in Hyderabad by partnering with Electriq. 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. Additionally, there are key signs of momentum in this key potential market of 1.4Billion Indians. We will continue to onboard electric vehicles across multiple cities and generate employment avenues for the youth of India. We plan to work with more mobility companies in the future and to transform the overall shared mobility space in India by bringing our financial and strategic experience from our stakeholders.”
“We are extremely thrilled to kick-start the partnership with MBSI with a batch of Electric vehicles – two wheelers and e-cycles that will enable us to increase our footprint across Hyderabad city. Over the next few months, we will rapidly expand our partnership across South India, Delhi in North India and Kolkata in East India, by partnering with more companies to provide our solutions and to accelerate this electric revolution. We want the delivery executives to enjoy the EV experience with state-of-the-art innovation and technology, along with our goal to create a clean, green, and sustainable environment. Electriq will provide quality, economical, affordable products, spares, after sales services and mobility solutions to consumers and build an ecosystem to support MSME’s develop their products more efficiently & competitively. We plan to expand our services across multiple cities in India over the next few months.”- Anand Thakur CEO and Founder – Electriq said.