EVs will make up half of the commercial logistics force by 2028: Zypp Electric Co-founder Akash Gupta
In a fireside chat at TechSparks' Mumbai edition, Zypp CEO Akash Gupta said that it will take electric cars for personal mobility about 10 years to see meaningful uptake and constitute around 50% of total vehicles on Indian roads.
Zypp Electric Co-founder and CEO Akash Gupta predicts that, by 2028, electric vehicles will make up 50% of the commercial logistics force.
Speaking at TechSparks' Mumbai edition, Gupta said he believes the commercial sector will continue to lead EV adoption in India, and drive more penetration than the personal mobility sector.
"Personally, I'd love to spearhead that adoption, especially in the segment we operate in," he said during a fireside chat at the event.
EVs today account for nearly 10% of the total vehicles in India, and a large portion of that comes from commercial, last-mile delivery and personal mobility.
Gupta estimates it will take electric cars for personal mobility about 10 years to see meaningful uptake and constitute around 50% of total vehicles on Indian roads.
Acknowledging the widespread impact EVs have created in India, Gupta says that there's a noticeable change in the way EVs are being considered in India, versus in 2018 when Zypp Electric pivoted from a bicycle-rental platform to its current business model.
"Today, people know electric vehicles...they're writing to us because they want to work in a sunrise sector and they want to join the EV bandwagon...it wasn't like that when we started," he adds.
Zypp Electric currently has about 20,000 e-scooters on the ground. Its main operations are in New Delhi, with Mumbai and Bengaluru on the anvil. The startup plans to spend around Rs 100 crore on growing in the aforementioned markets.
Gupta last month met with 's Dara Khosrowshahi when he was on tour in India to broaden Zypp's partnership for e-bike taxis. recently also announced a huge foray into e-bike taxis.
Edited by Affirunisa Kankudti