Yamaha Motor Moto Business Service India (MBSI) announced its entry into the EV segment for 4 - wheeler asset management services by partnering with Malbork, a Bangalore based all electric sustainable energy powered vehicle service company.
MBSI provides services for tech startup companies that focus on the shared mobility space in India. Their first investment was with Royal Brothers, India’s leading bike rental company. This is their second investment in the past quarter.
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. 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.
As per recent industry reports published, India’s electric vehicle market (EV) is estimated to emerge as a $7.09 billion opportunity by 2025. Furthermore, the Indian government is also formulating new measures to achieve 100% electric vehicle mobility by 2030. In fact, the Indian EV market is anticipated to witness a robust CAGR growth of 42.38%. Such positive developments in the Indian EV industry make for a vast pool of opportunities for foreign investors such as MBSI who are willing to expand their business in the country.
MBSI will also procure EVs which in turn will be deployed on taxi platforms such as Malbork. These vehicles are taken on rent by cab drivers, individuals 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 platformers, especially with the companies who are keen on deploying EV - 2W/3W/4W.
Shoji Shiraishi, Managing Director, MBSI said, “We are extremely excited to officially kick starting our operations in the EV sector with Malbork. India is seeing rapid growth in sales of Electric Vehicles (EVs) as travelers 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 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.”
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