Zypp Electric, an Indian EV-as-a-service platform, is partnering with Indofast Energy to deploy 100,000 electric two-wheelers in India over the next 12-18 months. Indofast Energy's battery swapping network will support the expanded fleet, providing quick battery swaps and eliminating charging downtime. The initiative also marks Zypp Electric's move towards global expansion, targeting markets in Southeast Asia, the Gulf, and Africa. Indofast Energy plans to expand its battery swapping network to 10,000 stations across 50+ cities in three years.

“At Zypp Electric, we are committed to redefining last-mile logistics with sustainable and cost-effective EV solutions. This major expansion will not only solidify our market leadership in India but also propel us towards global markets in Southeast Asia, the Gulf, and Africa. Our strengthened collaboration with Indofast Energy will play a crucial role in ensuring seamless operations and accelerating EV adoption across key urban centres,” said Tushar Mehta, Co-founder & COO at Zypp Electric.

An opportunity to scale up the existing partnership

Zypp Electric has already deployed over 10,000 EVs with Indofast Energy's infrastructure. This new agreement represents a significant scaling up of their existing partnership. The rollout will focus on eight major Indian cities, including Delhi NCR, Mumbai, Bengaluru, Hyderabad, Pune, Lucknow, and Jaipur. This expansion is expected to boost Zypp Electric’s fleet from 20,000 to 100,000 vehicles within 12 to 18 months, and further to 500,000 vehicles in the following 36 to 48 months.

Zypp Electric aims to expand beyond India and become a global leader in EV fleet services. This international expansion targets growing demand in emerging markets.

Rajat Malhan, Senior Vice President, Indofast Energy said, “As we strengthen our groundbreaking partnership with Zypp Electric, we're not just expanding our fleet - we're revolutionizing the fabric of urban mobility. The deployment of 100,000 battery-swappable EVs is a resounding testament to our unwavering commitment to electrify India's logistics landscape. Together, we're improving the lives of our delivery partners and helping create a cleaner, greener future.”