Zypp Electric plans to deploy 1 lakh EVs by 2022

Zypp Electric expects its turnover to jump more than five times to around Rs 25 crore during this fiscal year.

Zypp Electric currently has 5,000 EVs in the Delhi-NCR region and plans to expand to 1 lakh EVs in the next 18 months in the top ten cities of India. To scale up further EV adoption, the firm expects to grow three times further as they expand to 1 lakh EVs and hire 450-500 employees, largely in technology and operations. The tech-enabled EV shared mobility platform expects its turnover to jump more than five times to around Rs 25 crore during this fiscal year. In September this year, the Gurugram-based startup raised $7 million in a Series A funding round, indicating that investors are betting big on the Indian EV industry.

Akash Gupta, co-founder & CEO, Zypp Electric said, “Super proud to share that our revenue has jumped more than 5 times to Rs 25 crore this fiscal year, from Rs 5 crore a year ago. Going by the current monthly run rate, the company expects to end the year at $6mn ARR.”