MBSI forays into the EV segment for two and three-Wheeler Asset Management Services under the partnership with FullFily
The critically acclaimed leasing company of Yamaha Motors, Moto Business Service India (MBSI) forays into the EV segment for two and three-Wheeler Asset Management Services under the partnership with FullFily, an electric mobility solutions company in Chennai, India.
Under the partnership, the brands plan for the management of 50 units of Omega Seiki Rage+ EV 3-Wheelers and 200 units of Hero NYX Electric 2-wheelers. Further, Yamaha plans on enhancing this number to more than 2000 vehicles across Tamil Nadu with FullFily and other last mile delivery partners in the near future.
As for MBSI, the company provides leasing and other support services for electro-mobility solutions and shared mobility-based startup companies in India. According to the brand, this is believed to be its 9th investment as of 2022. Their first investment was with Royal Brothers, a leading bike rental company in India. Furthermore, MBSI has also partnered with last-mile delivery businesses in Delhi, Hyderabad and Bengaluru as well.
Mr. Shoji Shiraishi, Managing Director, MBSI said, “We are extremely excited to officially kick start our operations in the EV sector in Chennai by partnering with FullFily. India is seeing rapid growth in sales of Electric Vehicles (EVs) as manufacturers and users rush to switch from gasoline-powered vehicles due to the rising cost of fuel.
Additionally, there are key signs of momentum in this key potential market of 1.4Billion Indians. We will continue to onboard electric vehicles across multiple cities and generate employment avenues for the youth of India. We plan to work with more mobility companies in the future and to transform the overall shared mobility space in India by bringing our financial and strategic experience from our stakeholders.”
Ashok Viswanathan CEO and Founder of Fullfily said, “We are extremely thrilled to kick-start the partnership with MBSI with a batch of Electric vehicles- two-wheelers and three-wheelers that will enable us to increase our footprint across Chennai. Over the next few months, we will rapidly expand our partnership across South India by partnering with more companies to provide our solutions and accelerate this electric revolution.
We want the delivery executives across our platform to enjoy a seamless experience with everyday innovation along with a keen focus on a clean, green, and sustainable environment. Fullfily also aims to leverage its strategic alliances to improve the access of fleet and infrastructure for tier 2/3 markets and the SMB space which is severely under-serviced. We have plans to expand our services across multiple cities in India.”
At a time when automobile manufacturers and shared mobility service-based companies are leaning towards electro-mobility, MBSI would also like to be a contributor in the EV space. As per recent reports, India’s electric vehicle market (EV) is estimated to emerge as a $7.09 billion opportunity by 2025. The Indian Government is also focusing on achieving 100 per cent electrification of vehicles by 2030 as well. Therefore, the aforementioned brands believe that there is a huge potential in this market.
