Yamaha Motor leasing firm forays into e-scooters by investing in Hyderabad-based start-up

Moto Enterprise Service India (MBSI), the leasing arm of the Tokyo-based Yamaha Motor, is foraying into the two-wheeler electrical car section by partnering with Hyderabad-based start-up Solely Electriq Options. The previous has invested an undisclosed quantity within the latter, in response to the corporate. 
 
This partnership will start with the launch of 1250 items of e-scooters and 50 items of e-cycles which shall be taken on hire by the supply riders of corporations like Swiggy, Zepto and Zomato. The electrical automobiles shall be tracked by utilizing Electriq’s internet and app-based IoT-enabled platform. 
 
India is seeing a fast development in gross sales of EVs as producers and customers rush to modify from gasoline-powered automobiles as a result of rising value of gas, stated Shoji Shiraishi, Managing Director of MBSI whereas launching the two-wheeler EVs. 
 
He additional added, “We’re extraordinarily excited to formally kick begin our operations within the EV sector in Hyderabad by partnering with Electriq… We are going to proceed to onboard electrical automobiles throughout a number of cities and generate employment avenues for the youth of India. We plan to work with extra mobility corporations sooner or later and to rework the general shared mobility area in India by bringing our monetary and strategic expertise from our stakeholders.”
 
Whereas Yamaha has begun to execute its plans with Hyderabad, it’s going to progressively take the entire variety of automobiles launched to greater than 5000 throughout totally different cities by the top of this fiscal 12 months. 
 
Yamaha introduced in March this 12 months that it has arrange MBSI in a bid to offer car leasing and different help providers to tech start-up corporations that target the shared mobility area in India. That is Yamaha’s 14th funding and among the different investments embrace Mom POD, Fae Bikes, Scoo EV, Soujanya Travels and extra.
 
MBSI has additionally partnered with final mile supply corporations in Delhi, Chennai and Bengaluru.