Rapido, taking a step towards sustainable mobility, announced its partnership with IndoFast Energy, a joint venture of IOCL and Sun Mobility, to deploy 10,000 Piaggio’s swappable e-autos, E-city Max, across the country in the next 24 months. Beginning in Hyderabad, Bengaluru, and other major southern cities, the partnership aims to add over 1,000 EVs to the public transport system by December 2024.
The partnership started with a pilot programme, between both companies, in Bengaluru, Hyderabad, and Delhi in 2023, aimed at integrating IndoFast Energy’s advanced swappable battery technology into Rapido’s platform to improve the accessibility, efficiency, and convenience of electric vehicles. The collaboration has enabled the setup of over 100 swap stations in Hyderabad and Bengaluru, allowing auto captains to exchange batteries and reduce downtime. Rapido plans to have approximately 20% of its daily rides serviced by swappable electric autos.
Pavan Guntupalli, Co-founder of Rapido said, “At Rapido, our mission is to provide affordable, convenient, and eco-friendly mobility solutions. This partnership with IndoFast Energy allows us to significantly enhance our EV offerings on the platform, aligning with our commitment to sustainability. By introducing swappable electric autos operated by our Captains, we’re not only reducing the carbon footprint but also empowering our drivers with sustainable earning opportunities, setting a new benchmark for the ride-hailing industry.”
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Diego Graffi, Chairman and MD, Piaggio Vehicles said, “As pioneers of 3W electric mobility in India, today, we have over 50,000 Ape Electrik vehicles running across the country. Of these, already over 2500 Ape Electrik vehicles have a swappable battery solution and many of these have run over 1 lacs kms. We are proud of the performance, robustness, durability, and ease of usage that Ape Electrik provides customers with. By partnering with Rapido and IndoFast Energy, we aim to deploy over 10,000 3W EV swappable battery vehicles in 24 months across India. With negligible down time for EVs, swappable battery solution is cost effective and promising future of EVs. This partnership would be a significant contribution to India’s EV mission as well as a push for the benefits of a swappable battery solution.”
IndoFast Energy’s swap stations allow users to quickly exchange depleted batteries for fully charged ones in under two minutes, making “EV refueling” faster, cheaper, and more convenient than traditional petrol and diesel options. Operating on a pay-per-use model, users only pay for the energy used per swap. Additionally, IndoFast Energy plans to establish 10,000 swapping stations in over 40 cities within the next three years to meet the growing demand for swappable EVs.
Rapido, in partnership with IndoFast Energy, is also planning to add high-speed premium two-wheelers and retrofitted three-wheelers to its platform to expand its eco-friendly ride-hailing options.
