BluWheelz to invest $15 million in the span of a year, plans to bring in 10,000 EVs

7 Sep 2022 , 07:12 AM

On Tuesday, BluWheelz, a provider of electric vehicle fleets, announced plans to spend up to USD 15 million (about Rs120 crore) over the course of a year to deploy nearly 10,000 electric two- and three-wheelers for last-mile deliveries.

The business, which began offering EV fleet as a service (EFaS) operations on Tuesday, will first be the owner of the fleet vehicles and offer services to e-commerce, e-grocery, FMCG, logistics, and D2C (direct-to-consumer) businesses.

According to BluWheelz founder Chanpreet Sethi, reported by ET, it will also hire about 11,000 individuals, primarily delivery partners.

With the deployment of about 10,000 electric two- and three-wheelers to provide fleet service for last-mile delivery, BluWheelz seeks to provide a full ecosystem, or platform, that would meet the needs of the shipper.

The firm, which has investors backing it, including former Coca-Cola India President Sanjiv Gupta, is currently self-financing, he said.

Prior to entering other areas, the company will initially concentrate on Delhi-NCR and North India, he added. According to Sethi, BluWheelz has a collaboration agreement with EV manufacturer e-Ashwa for the purchase of EVs and is also in talks for a partnership with four additional EV manufacturers.

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