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Zypp Electric, India’s EV-as-a-service platform, has reported a revenue increase from ₹302 crore in FY’24 to approximately ₹455 crore in FY’25, representing a 50% growth. The company also announced significant improvements in its March exit EBITDA, setting the stage for profitability within the next one to two quarters.
During the fiscal year, Zypp Electric reached the milestone of 100 million deliveries since its inception, with quick commerce accounting for 47% of these deliveries, up from 30% in the previous fiscal year. The company’s services helped prevent 45 million kg of carbon emissions during this period.
The platform supported over 120,000 gig delivery partners through its daily rental EV system, which includes swapping and technician services. Delhi NCR operations expanded by 16% to over 12,000 vehicles, while Bangalore saw a 31% increase to more than 5,000 vehicles. Mumbai operations, launched in FY’25, have already reached 2,400 active vehicles.
“FY25 has been a landmark year for us. We’ve not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business,” said Akash Gupta, Co-Founder & CEO of Zypp Electric.
The company prioritized technological improvements and operational efficiency during the year, introducing a SaaS platform for fleet management and launching Zypp Advertising Services as an additional revenue stream. Zypp Electric also strengthened partnerships with EV manufacturers, battery-swapping companies, and fintech leasing providers to ensure vehicle supply and improve fleet uptime.
Founded in 2017, Zypp Electric aims to make last-mile logistics sustainable through its electric vehicle fleet. The company currently operates over 22,000 EVs for deliveries across various sectors including groceries, medicines, food, and e-commerce packages.
India’s electric mobility sector has seen significant growth in recent years, supported by government initiatives to reduce carbon emissions and decrease dependence on fossil fuels. Last-mile delivery, particularly in the quick commerce segment, has emerged as a key application area for electric vehicles due to their lower operational costs and environmental benefits.
With the continued expansion of e-commerce and quick commerce in India, demand for sustainable delivery solutions is expected to increase. Zypp Electric’s focus on profitability while maintaining growth positions it to capitalize on these market trends as the EV ecosystem in India continues to mature.
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