Yamaha’s Subsidiary Announces Entry Into Electric Vehicle Leasing Market

To partner with Zypp Electric to push B2B e-commerce companies to go green

Yamaha announced its entry into the electric vehicle leasing space through its leasing company’s Indian division called Moto Business Service India (MBSI). 

MBSI has made its first investment with Zypp Electric to procure 250 Hero Electric two-wheelers in New Delhi, which will be leased out to various E-commerce companies in logistics, groceries, food and pharma sectors to help achieve sustainable and eco-friendly deliveries.

Zypp electric is a tech-enabled EV-as-a-service platform, whose business model is to enable green last-mile delivery for businesses, thereby helping entities reduce delivery cost and pollution without having to actually own vehicles. Current partners include Zomato, Swiggy, Zepto, Big Basket, Amazon, Flipkart, Myntra, PharmEasy, Jio Mart, Delhivery and Spencers to ensure last sustainable mile delivery in India. 

Zypp electric currently has a fleet size of 5,000 electric scooters and is only present in Delhi-NCR, although they plan to expand to Mumbai, Bengaluru, Hyderabad and Pune this year. MBSI’s investment would help add around 1000-1500 EVs every month, as the company aspires to have 1,50,000 EVs in their fleet by 2024. 

The Delhi government has made it mandatory for logistics companies and aggregators to go 100 % electric by 2025, and have also ensured that EV charging stations are built at a faster pace. Considering the new eco-friendly, electric wave in the Indian mobility sector, MBSI enters the leasing market at the perfect time, to gauge the scope and potential of business-to-business (B2B) as well as business-to-consumer (B2C) electric mobility.

Yamaha had earlier announced a limited lease program in Europe, Taiwan, Indonesia, Thailand, and Malaysia and had unveiled the E01 electric scooter specifically for this program. However, for India, they plan to use Hero Electric scooters, including the NYX HX scooters might be used, which in fact bear uncanny resemblance with the Jitendra JMT1000.