Motors leasing company - Moto Business Service India (MBSI), announced its
entry into the EV segment for 2 and 3 - wheeler asset management services by
partnering with FullFily, a Chennai based all electric sustainable energy
powered EV vehicle company for last mile delivery services.
launch of the partnership is with 50 units of Omega Seiki Rage+ EV 3 -wheelers
and 200 units of Hero NYX electric 2 - wheelers. Yamaha plans to manage 2000
more vehicles across Tamil Nadu with FullFily and other last mile delivery
partners over the next few months.
provides vehicle leasing and other support services for tech startup companies
that focus on the shared mobility space in India. This is MBSI’s 9th 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
other investments include Mother POD, Soujanya Travels- Bengaluru based all
electric sustainable energy 4-wheeler taxi and employee transportation company.
MBSI has also partnered with last mile delivery companies in Delhi, Hyderabad
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 6 months, MBSI has managed over 1500 assets and
plans to invest 100 Crore INR in vehicles they manage this year. The company
targets to manage 1 million vehicles by 2028.
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
EV industry makes 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 ICE and EV’s – Two, Three and Four wheelers; two and three wheelers
which 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.
Shiraishi, Managing Director, MBSI said, “We are extremely excited to
officially kick start our operations in the EV sector in Chennai by partnering
with FullFily. 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.”
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