Moto Business Service India (MBSI), the shared utility platform of Yamaha Motor has entered into the four-wheeler EV segment by partnering with an all-electric sustainable energy-powered vehicle service organization, Malbork Technologies.
MBSI offers services to tech startups focusing on the shared mobility space in India. The company’s objective is to generate employment opportunities as well as to support the growth of mobility platforms. Moreover, MBSI will acquire two, three and four-wheeler EV vehicles and deploy the same on rental platforms, the company said.
Shoji Shiraishi, Managing Director of MBSI said, “We are extremely excited to officially kick starting our operations in the EV sector with Malbork. India is seeing rapid growth in sales of Electric Vehicles (EVs) as travelers rush to switch from gasoline-powered vehicles due to the rising cost of fuel. Additionally, there are key signs of momentum in this key potential market of 1.4 Billion Indians.”
He added, “We will onboard electric vehicles across multiple cities and generate employment avenues for the youth of India. We plan to work with more mobility companies in the future and to transform the overall shared mobility space in India by bringing our financial and strategic experience from our stakeholders.”
Sanjeev Kumar, CEO and Founder of Malbork Technologies Pvt. Ltd. said, “We are creating a sustainable transportation model by deploying zero-emission electric cars and employing lower-income community members. In partnership with our electric vehicle manufacturers, fast charging partners, community of drivers and local government bodies, we are increasing the number of electric vehicles on the road and creating social value. We have plans to expand our services across multiple cities in India.”
According to the recent report, the EV market of India is estimated to emerge as a USD 7.09 billion opportunities by 2025. The Government of India is also formulating new measures to achieve 100% electric vehicle mobility by 2030.
The Indian EV market is anticipated to witness a robust CAGR growth of 42.38%. It stated that such positive developments in the Indian EV space make for a vast pool of opportunities for foreign investors, such as MBSI, who are willing to expand their business across the country.
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“We are excited to officially launch MBSI by kick-starting our operations with Royal Brothers. Today, India is the land of start-ups and thriving digital infrastructure, uniquely placed at the cusp of a socioeconomic revolution.