Credits - Autocar

Bengaluru-based vehicle rental startup Drivezy along with one of its investors Yamaha Motor Co are partnering up to launch Yamaha’s high-end electric scooter – the EC-05 – in India. The EC-05 was launched in Taiwan and could be available in India from November onwards.

Launched in June, the electric scooter is manufactured by Yamaha and Taiwan’s Gogoro Inc, a company that has built its own electric scooter and a network of electric charging stations across Taiwan. EC-05 is designed by Yamaha and manufactured by Gogoro in one of its production vehicle platforms.

The scooter has a 6,400-watt electric motor. The scooter has a top speed of 90 km/h and accelerates from 0 to 50 km/h in 3.9 seconds. The scooter has two removable Gogoro-compatible Lithium batteries for a range of 110 km. Yamaha has entered a partnership with Honda, Kawasaki, and Suzuki to design a standardized swap-able battery that can be shared by many electric vehicles, including cars and boats.

Gogoro has installed more than 1,300 battery-swapping stations across Taiwan called GoStations where riders can exchange the discharged battery for a charged one. However, there are still speculations about Drivezy replicating the stations in India.

“We are setting up a separate electrics subsidiary and will raise about $20 Mn to $25 Mn for it,” Drivezy CEO Ashwarya Pratap Singh had told Forbes India.

Building charging stations from scratch may be difficult for Drivezy as real estate is expensive in Indian metros. Reports suggest that the startup might be looking forward to partner with other companies to share real estate.

Founded by Ashwarya Pratap Singh, Vasant Verma, Amit Sahu, Hemant Kumar Sah, and Abhishek Mahajan, Drivezy offers peer-to-peer bike and car-sharing service to Indian customers. The startup is operational in 11 cities across the country and has a fleet of 4,000 cars and 15,000 scooters.

The platform allows vehicle owners to list their cars and scooters and earn money by renting the vehicles to needed. There are options available to rent cars and scooters on hourly, daily, weekly and monthly basis.

There are several media reports suggesting that Drivezy is in talks with Amazon and Softbank to raise INR 690 crores in an equity funding round. The startup is actively looking for funds to expand its fleet of vehicles across India and also penetrate the foreign markets in the future.

The startup competes with startups like Bounce, LetsRide, ZoomCar, Carzonrent, Wunder, Ryde and PoolCircle. It has raised a total of INR 1,050 crores from investors including Kima Ventures, Axan Ventures, Das Capital, Axon Partners Group, IT Farm, Yamaha Motor Co, and AnyPay.


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