In a move towards sustainable mobility, Rapido, a bike, auto, and cab aggregator platform, has partnered with IndoFast Energy, a 50-50 joint venture of Indian Oil Corporation (IOCL) and Sun Mobility, to roll out 10,000 of Piaggio’s swappable e-autos, E-city Max, across India in the next 24 months. Starting with Hyderabad, Bangalore and other major cities in southern India, the partnership will add over 1000, electric vehicles to the country’s public transport system by December 2024.
The partnership between Rapido and IndoFast Energy began with a pilot in Bengaluru, Hyderabad and Delhi in 2023, to integrate IndoFast Energy’s advanced swappable battery technology into Rapido’s platform, enhancing the accessibility, efficiency, and convenience of electric vehicles.
Building on the success of the pilot program started by the two companies, the collaboration has facilitated the establishment of 100+ swap stations in Hyderabad and Bangalore, allowing auto captains to swap batteries and minimize downtime. Rapido aims to cater to around 20% of its daily rides using swappable electric autos.
"At Rapido, our mission is to provide affordable, convenient, and eco-friendly mobility solutions. This partnership with IndoFast Energy allows us to significantly enhance our EV offerings on the platform, aligning with our commitment to sustainability," said Pavan Guntupalli, Co-founder of Rapido. “By introducing swappable electric autos operated by our Captains, we are not only reducing the carbon footprint but also empowering our drivers with sustainable earning opportunities, setting a new benchmark for the ride-hailing industry.”
IndoFast Energy’s swap stations are designed for swift battery exchanges, enabling users to swap depleted batteries for fully charged ones in under two minutes. The network of swap stations allows for ‘EV refuelling’ faster, cheaper, and more convenient than conventional petrol and diesel vehicles. This solution also works on a pay-per-use model that empowers EV users to pay for only the energy used per swap. IndoFast Energy also recently announced its plan to set up 10,000 swapping stations across 40+ cities in the next 3 years to cater to the rising demand for swappable EVs.
Diego Graffi, Chairman and Managing Director, Piaggio Vehicles said, “As pioneers of 3W electric mobility in India, today, we have over 50,000 Ape Electrik vehicles running across the country. By partnering with Rapido and IndoFast Energy, we aim to deploy over 10,000 3W EV swappable battery vehicles in 24 months across India. With negligible downtime for EVs, swappable battery solution is cost effective and promising future of EVs. This partnership would be a significant contribution to India’s EV mission as well as a push for the benefits of a swappable battery solution.”
