Zyngo to Deploy 18,000+ EVs across India for Last-Mile Deliveries by FY 2022-23
Delhi-NCR headquartered third-party logistics service provider (3PL) Zyngo EV Mobility Pvt. Ltd. has announced that they will be working towards exponentially increasing the company’s active fleet size to deploy over 18,000 electric vehicles, which shall consist around 60% EVs 2Ws and 40% EV 3Ws, for last-mile deliveries across India by the end of the current fiscal, i.e. FY 2022-23. These delivery vehicles are being leased/sourced by Zyngo from the country’s leading OEMs such as Hero Electric, Piaggio, Omega Seiki Mobility, Kinetic Green and Mahindra Electric, among others; Zyngo has been partnering with them based on strong and robust SLAs, wherein the entire maintenance and servicing of the vehicles is covered by the respective OEMs. Simultaneously, Zyngo will be looking to enter newer geographies while also scaling its B2B customer-cum-logistics-partner portfolio by more than 10x within the next one year or so. Among some of the renowned e-grocery and e-commerce brands in the country whom Zyngo has been already serving and has become the reliable and trusted logistics-delivery partner to include – BigBasket, JioMart, Flipkart, BlinkIt, Amazon Fresh, etc.
Zyngo’s fleets are currently spread across Delhi-NCR (including Gurgaon, New Delhi, Noida, Ghaziabad and Faridabad), Bengaluru, Mumbai, Hyderabad, Jaipur and Chandigarh; and in the current fiscal, they are going to kickstart operations in Pune, Ahmedabad, Indore, Chennai, Lucknow and Bhopal, among other locations, while further expanding their EV fleets onto their existing and new locations. Notably, Zyngo is currently doing ~3 lakh deliveries per month with the help of its all-electric fleet of 850+ 2W and 3W EVs. In the last fiscal, i.e. FY 22, Zyngo had clocked an Annual Revenue (ARR) of ~INR 9 crore, while growing around 6x in terms of revenue in the last one year or so. Now, the company targeting to achieve a whopping ARR of INR 100 crore for FY 23.
Speaking on the latest developments, Prateek Rao, Founder & CEO, Zyngo EV Mobility says, “We are proud to say that Zyngo’s unique asset-light, scalable model for hyperlocal logistics, in partnership with leading OEMs of the country, is today playing a pivotal role in catering to the needs of a variety of both B2B to B2C consumers, by utilizing technology optimally alongside new-age innovations and strategies with regards to fleet management. We at Zyngo are currently on track to increase our fleet size by upto 18000 EVs by FY 23-end. As a part of this, we are targeting deployment of 10,000 EVs across various locations by November 2022, and then the rest by March 2023, in order to fulfil the growing market requirements and to increase our business propositions by 10x or more. By creating an ecosystem, Zyngo intends to provide a pollution-free, seamless delivery experience at cost-effective prices to its customers while driving forward the green movement in logistics-delivery space with its EV fleets.”
As per industry estimates, the hyperlocal delivery market in India going to grow by over 12x by 2024, and the nation’s e-commerce market going to cross approximately 6x in parallel by the same year. By ramping up its fleet size and footprints across India, Zyngo aims to capture at least 35 per cent of the entire hyperlocal e-commerce logistics market by 2024. And they will be doing so majorly by leveraging and expanding Zyngo’s leadership in EV-logistics space onto emerging and booming segments such as food-tech, online-commerce, quick-commerce and e-grocery deliveries.
Currently, Zyngo is the largest operational fleet services company in Delhi-NCR in terms of active deployed fleets in e3W segment, and the company also has achieved the feat of having the maximum volumes of e3W-L5 Cargo EVs deployed by a single 3PL company across India. Also, Zyngo is now Amazon Fresh’s Largest EV-fleet vendor across India and is single-handedly managing 47 per cent of the latter’s delivery business across Delhi-NCR. By 2025, Zyngo aims to deploy at least 1 lakh zero-emission EV fleets across India and thereby support India’s climate action and sustainability goals. Whereas on the B2C side, Zyngo has plans to soon launch a first-of-its-kind hyperlocal B2C delivery mobile app for ensuring optimum utilization of fleets, which shall enable hands-on availability of the entire Zyngo fleet at customers’ behest via an easy-to-use, robust tech platform for both IOS and Android users.
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