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Oye! Rickshaw Targets 5x Growth In Fy2022 For Its Delivery Business

OYE Rickshaw

Oye Rickshaw!, the largest and fastest-growing EV mobility player in India, aims to increase its national footprint to 25+ cities, thus enabling its delivery business to grow 5X taking its deliveries from the current 4 million to 20 million in FY2022. The brand, which believes that e-rickshaws will be key to the EV-fication of the country, aims to add approximately 100,000 EVs to its stable in the next 12 months. This will make Oye! Rickshaw not just the largest e-rickshaw player but also one of the largest e-delivery players in the country.

The brand currently works with some of the biggest names in the e-commerce business, including Bigbasket Daily, Udaan, Flipkart, Dealshare, Jiomart & Blinkit (erstwhile grofers). Fulfilling about 40-45% of daily deliveries across its client set, Oye! Rickshaw has partnered with the likes of Bigbasket Daily, Udaan, Flipkart, Dealshare, Jiomart & Blinkit (erstwhile grofers), to name a few, for its delivery business. The partnership with these brands will be furthermore be nurtured to increase the services to support the govt’s EV focus and add value to the economy overall. The revenue generated from these partners amounts for 30-40% of Oye!’s total delivery business. Further to the recent expansion plans announced by Oye! Rickshaw in 25+ cities by FY2022, the brand aims to achieve 20 mn deliveries.

Commenting on the game plan, Co-founder and CEO, Mohit Sharma said, “We see this as a great turning point for the logistics and e-commerce industry as last mile delivery has been a pain point in terms of cost that affects overall pricing of the products. Hence, we are proud of the fact that our efforts with the fleet delivery model are absolutely enrouted in the direction that we wish to take them. As we continue to work towards strengthening this vertical of our business and provide our customers and partners with convenience for greater good, we are also mindful of the impact that it will create on the environment owing to our operations, we are taking the important steps to make our journey more sustainable.”

The last 6 months saw an increased demand for last-mile delivery, primarily due to post-pandemic increased economic activities. Addition of 3 new cities also contributed to the spike. Since its foray into delivery towards the end of 2020, Oye! Rickshaw has emerged as the largest EV player in the last-mile delivery segment. Oye!’s core value proposition is the form factor of its vehicles. E-rickshaws have proven to be the ideal last-mile delivery vehicles due to its versatility, flexibility and low cost of operation. Oye!’s robust tech backbone enables it to derive high efficiency from its vehicles.

What started as a way to sustain the livelihood of the driver partners, during the first lockdown, has grown to become an independent business. Managing B2B and B2C deliveries for large e-commerce and e-grocery platforms has made Oye! Rickshaw, an end-to-end solution for businesses and the end users. The average per kilometer operating cost of e-rickshaws is considerably lower than that of two-wheelers with weight and volume carrying capacity being five times that of bikes.

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