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Snap-E Cabs wants to take on big players in Kolkata with its on-demand EV fleet

YourStoryYourStory · 1y ago
Snap-E Cabs wants to take on big players in Kolkata with its on-demand EV fleet
Medial

Kolkata-based ride-hailing platform Snap-E Cabs aims to disrupt the taxi market in the city, which suffers from high levels of air pollution due to vehicular emissions. With a fleet of over 600 Tata Tigors, the electric ride-hailing company is looking to become the first unicorn from Kolkata. Snap-E leases the vehicles but also has the option to purchase them later. The company has seen strong demand since launching its app in October 2022, with over 30,000 downloads in two weeks and over one lakh downloads on Google's Play Store to date. The bootstrapped company generates over INR 2 crore in monthly revenue and plans to close FY24 with an annual recurring revenue (ARR) of INR 35 crore.

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Why Ola’s Path To Green Mobility Is Full Of Twists And Turns

Inc42Inc42 · 1y ago
Why Ola’s Path To Green Mobility Is Full Of Twists And Turns
Medial

Ola Cabs, a major ride-hailing company in India, has been slow to make progress in transitioning to electric mobility and has faced increased competition in the EV segment. While Ola Electric, a subsidiary of Ola Cabs, was established in 2017, the company has yet to achieve any significant milestones in its quest for an electric fleet. In contrast, competitors like Uber India and other emerging players such as BluSmart and Evera Cabs have already deployed thousands of electric vehicles. Ola's past initiatives, such as "Mission: Electric," have not come to fruition, and the company's current CEO, Hemant Bakshi, has offered limited clarity on its green mobility plans. Nevertheless, Ola aims to expand its electric vehicle offerings beyond two-wheelers to include three-wheelers, cars, and e-buses. However, Ola Electric's timeline for new products may not align with Ola Cabs' ambitions. Ola Electric plans to launch electric auto-rickshaws in the coming months, which could be integrated into Ola Cabs' fleet. The company also intends to enter the electric car market eventually but may need to partner with fleet operators and other original equipment manufacturers in the meantime. Ola's focus on scaling up its electric two-wheeler ride-hailing vertical is driven by the belief that state governments are more likely to favor two-wheelers over traditional internal combustion engines. However, Ola faces competition from established players such as Yulu and Rapido, as well as Uber's emphasis on Uber Moto. Ola still has to overcome challenges such as unit economics and profitability while catching up with existing rivals.

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