Key Takeaways
Earlier this year, The CapTable reported that ride-hailing startup Rapido surpassed its older and larger rival Ola in terms of the number of rides it facilitated. That feat was achieved largely on the back of its thriving two-wheeler hailing business, where it is the undisputed market leader. Now, Rapido is attempting to repeat its two-wheeler dominance in the three-wheeler category as well.
Increasingly, Rapido users in its home city of Bengaluru have seen electric autos pulling up when they book three-wheeler rides on the platform. This isn’t an indication of Bengaluru auto drivers transitioning to EV vehicles. Rather, it is the first signs of one of Rapido’s most ambitious pilots so far—a captive fleet of electric autos.
According to two executives associated with Rapido, the company has deployed about 400 electric autos in the city, which it has leased from EV infra and services provider Sun Mobility. These vehicles are operated by drivers who are employed directly by Rapido. The pilot, say the two executives, has been running for close to two years now and has gradually been scaled up. While Rapido did not respond to questions sent by The CapTable, Sun Mobility says the pilot has since been expanded to both Delhi-NCR and Hyderabad, with the firm providing around 500 electric autos in total.
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