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    EV Startups to see Multi-Fold Growth in 2021

    Backed by the rising e-commerce, food deliveries and revival in the economy, electric vehicle startups in the shared mobility space are eyeing multi-fold growth this year.

    Micro-mobility startup Yulu, which is backed by Bajaj, saw a quick recovery in the Unlock 1.0 phase. Earlier only the white-collar people used Yulu but now blue-collar workers and college students also are opting for last-mile connectivity.

    Apart from this, Yulu saw an additional business of 25%-30% because of the rise in demand for food delivery executives. The startup which was earlier operating 0-5km radius aims to develop new packages and products to cater to demand up to 10 km.

    Another Delhi-based startup that used to ferry passengers in the last-mile distances turned the pandemic into an opportunity. It was quick to launch its cargo business and use its existing resources for that. Smart E saw a steep rise in business due to the rise in e-commerce. The rising fuel prices for traditional vehicles and the great consciousness of the corporations about a greener environment also helped us.

    The revival of the economy has catalysed growth as in the passenger segment recovery is much faster in the Tier-II cities. Similarly, Blu-Smart which operates in the electric cab business is seeing rapid growth in demand.

    ELE Times Research Deskhttps://www.eletimes.com
    ELE Times provides a comprehensive global coverage of Electronics, Technology and the Market. In addition to providing in depth articles, ELE Times attracts the industry’s largest, qualified and highly engaged audiences, who appreciate our timely, relevant content and popular formats. ELE Times helps you build awareness, drive traffic, communicate your offerings to right audience, generate leads and sell your products better.

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