Moto Business Service India, a leasing firm of Yamaha Motors, on Monday announced a partnership with Chennai-based FullFily, marking its foray into electric two and three-wheelers asset management services. Under the partnership, Moto Business Service India (MBSI) will manage electric two and three-wheelers of FullFily, which is an end-to-end electric vehicle-as-a-service and delivery-as-a-service platform.
The collaboration with FullFily marks the start of the company’s operations in the electric vehicle (EV) segment in Chennai, MBSI Managing Director Shoji Shiraishi said in a statement.
“India is seeing rapid growth in sales of electric vehicles (EVs) as manufacturers and users rush to switch from gasoline-powered vehicles due to the rising cost of fuel…We will continue to onboard electric vehicles across multiple cities and generate employment avenues for the youth of India,” he added.
MBSI plans to work with more mobility companies in the future, Shiraishi said, adding the company aims “to transform the overall shared mobility space in India by bringing our financial and strategic experience from our stakeholders”.
The partnership with MBSI with a batch of EV – two-wheelers and three-wheelers – will enable FullFily to increase its footprint across Chennai, company CEO and Founder Ashok Viswanathan said.
“Over the next few months, we will rapidly expand our partnership across South India by partnering with more companies to provide our solutions and to accelerate this electric revolution,” he added.
FullFily also aims to leverage its strategic alliances to improve the access of fleet and infrastructure for tier II and II markets and the small and medium business space which is severely under-serviced, Viswanathan said.
MBSI said the the partnership is for 50 units of Omega Seiki Rage+ EV three-wheelers and 200 units of Hero NYX Electric two-wheelers. The company plans to manage 2,000 more vehicles across Tamil Nadu with FullFily and other last-mile delivery partners over the next few months.
The initial procurement of these electric three-wheelers by Three Wheels United, averagely priced at INR 3 lakh and INR 3.5 lakh for passenger and cargo categories respectively, will be for deployment in Bengaluru and Delhi. As demand in other cities picks up, TWU will expand to those areas as well.