BREAKING: Yamaha Enters EV Leasing Space

In March 2022, Yamaha Leasing Company announced the establishment of the Moto Business Service India Pvt. Ltd. (MBSI), as a new mobility solutions company in India with the aim of expanding its mobility service businesses. 

Now MBSI has invested in Gurugram-based delivery service and EV rental company Zypp Electric. 

With a fleet size of 5,000 electric scooters, Zypp is adding 1000-1500 E-vehicles every month and has plans to add 1,50,000 EVs to its fleet by 2024. The company has partnered with e-commerce segments across logistics, groceries, food, and pharma sectors such as Zomato, Swiggy, Zepto, Big Basket, Amazon, Flipkart,  Myntra, PharmEasy, Jio Mart,  Delhivery, and Spencers for deliveries. 

Yamaha has kick-started its operations with Zypp Electricwith 250 scooters including the Hero Electric NYX. That said, the scooter has an uncanny resemblance to the Jitendra JMT1000. Note that these scooters are for last-mile delivery service to E-commerce segments and not for daily commuting use. 

The partnership is in line with section 4.1.9 of the Delhi Electric Vehicles Policy Act, 2020, which mandates logistic companies to go 100 percent electric by 2025.  

While Zypp currently only operates in Delhi-NCR, the company has plans to expand to other major cities like Mumbai, Chennai, Bengaluru and Hyderabad within this year. Yamaha’s move in the EV space in India mirrors the Yamaha EC-01, which entered the European and Japanese market via the shared mobility space. With this investment, Yamaha seems to be gauging how the EV space in India is shaping up, as it will help the bikemaker to prioritise the retail EV space or B2B segment, depending on the scope of growth in either of them.