November 19, 2021

  • Daily Motion

Bounce to add 4,000 EVs to its fleet by February 

Bounce

Bounce to add 4,000 EVs to its fleet by February 

Bounce India’s leading shared mobility platform announced that it plans to add 4,000 e-scooters on its platform by February and will be transformed to 100% electric vehicle fleet by the third quarter of FY22.

Bounce

Bounce has witnessed a steady rise in the number of daily rides and reached to 35% pre-Covid19 pandemic. Before the Covid19 lockdown, it did about 1.3 lakh rides on a daily basis. 

It resumed operations in many cities and tier-II markets, including Hassan, Mysore, Vijayawada, Bangalore and Hyderabad.

Bounce CEO and co-founder Vivekananda Hallekere told “We have been transitioning to green mobility since early this year and every vehicle added since February 2020 has been electric. We approximately have 6,000 scooters and 50% of these are electric.”

He adds that by the third quarter of the financial year 2021-22, Bounce aims for 100% deployment of electric vehicles on the platform. 

“We always believed that widespread adoption of EVs will happen only by fleet operators as the backend infrastructure can be built before fleet deployment, thus solving the catch-22 situation. When Covid impacted business, we took advantage of the period to accelerate our EV adoption strategy,” Hallekere said.

The company has made partnerships with several OEMs in the electric and battery space to achieve a green vision.

Recently Bounce announced its partnership with Ampere Electric a subsidiary of Greaves Cotton Ltd. The collaboration will provide fast electric scooters, sustainable and affordable last-mile connectivity to the users. 

Ampere will customise its electric scooters for Bounce to make them more convenient for customers and towards sustainable mobility options. Its witnessing growth in B2B particularly in delivery and bike rental segment.

In March 2020, Bounce has raised a fresh of $6.5 million funding from existing investor InnoVen Capital, an Asia’s leading venture debt provider. The marks InnoVen Capital’s third investment in Bounce in a duration of 18 months which is total debt investment to $12 million, exclusively from the firm with Bounce.

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