The company aims to charge its electric fleet through the solar energy. Solar powered vehicles as the name suggests are electric vehicles, which are charged via solar power which is directly converted into electric energy, thus bringing down the vehicle’s running cost.
“We are planning that 50% of the facilities this year will be solar powered and by next year, whatever facilities that we are opening are 100% solar powered,” said Dhruv Bhatia, Co-founder and COO of Zevo India.
The start-up is currently working on its first opening of solar powered charging facilities in Delhi, and then diversifying into other metropolitan cities in the coming months.
Zevo’s current client’s portfolio includes Flipkart, Zomato, Blinkit, and Uber. It is going to sign tie-ups with Maersk, Kuehne+Nagel, Mars, Transagile, Shadowfax and Delhivery for FY24-2025.
The new tie-ups are also indicating its strong mindset to bring technological advanced vehicles in the Indian market.
Company’s bet on technology
The company is under the trial of bringing untapped temperature-controlled refrigerated delivery electric (REVs) vehicles. The company in December has announced its collaboration with Macphy for providing temprature controlled last mile fleet services, “We are expecting an order for more than 2,000 vehicles,” Bhatia told ETAuto. This technology will help in several sectors especially when it comes to pharmaceuticals and food & beverage sector.
To enhance the fleet management and increase the safety standards of their fleets, Bhatia highlighted, the company is using the latest technology to do vehicle analytics and monitoring. This will help both the fleet operators and the company itself to understand the fleet operating behavior.
“We are in talks with two to three AI companies to figure out how to integrate higher safety features like ADAS into our fleet via their tools and technology,” added COO of Zevo. “I think fleet utilisation and fleet maintenance and fleet understanding should get a lot better for us in the coming months.”
To increase the fleet size of the company, Zevo is under the process of fundraising, Bhatia told ETAuto. However, talking about the amount of fundraising, the Co-Founder said, he would like to keep it confidential until the paperwork is completed.
Revenue expectations
As per the company the revenue for this financial year is going to be exponentially high when compared to FY23-24. “We are aiming for 10,000 vehicles across and an annual run rate of NR 250 crore,” said Bhatia .
The company is optimistic towards its revenue target as it has already achieved INR 5-6 crore business in this financial year which was their revenue in FY24. “We already had a large order book to cater to bringing us high expectations for this financial year,” added Bhatia.
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