Food aggregator Zomato has partnered with Zypp Electric to deploy 1 lakh e-scooters by 2024 for last-mile deliveries. The deal is part of a plan of Zomato to go completely electric by 2030 as part of its commitment to “The Climate Group’s EV100” initiative.
"We are excited to associate with Zypp Electric to take another step towards our goal of going completely electric by 2030. This association will enable us to significantly reduce carbon emissions and bring more sustainable last-mile delivery options to our customers. We look forward to working together to create more efficient and environment-friendly deliveries," says Mohit Sardana, COO, Zomato.
Through the association, Zypp Electric is aiming to significantly reduce carbon emissions by up to 35 million and targets to achieve more than 1 crore deliveries through its electric vehicles by 2024. Zypp is currently serving Zomato, Swiggy, BigBasket, Amazon, Flipkart, Zepto, Blinkit, and many more with EV solutions as well as delivery partners.
"The association between Zypp and Zomato represents an enormous opportunity to revolutionise the food ordering and delivery industry and transform the way food is delivered. Food delivery is all on 2-wheelers and is mostly running on petrol and at the same time wanting to shift to EVs to save costs. By leveraging our EV fleet management technology and innovative partner solutions, we aim to create a more efficient, sustainable, and customer-centric delivery experience that will set a new standard in the industry. Through this association, we aim to drive growth and expansion into multiple markets. Our approach will empower gig workers and provide them with exciting earning opportunities, while also ensuring environmentally responsible and socially conscious operations for customers like Zomato," says Tushar Mehta, COO and co-founder, Zypp Electric.
The development comes at a time when Blinkit delivery partners across Delhi-NCR held strikes this month after Zomato, which acquired Blinkit last year, made changes to its delivery incentive structure. Blinkit is reportedly trying to move from a fixed-fee model of ₹25 per delivery to a hybrid pricing structure of ₹15 per delivery and a supplementary incentive based on distance travelled. This, according to delivery executives, will significantly cut their earnings potential. More than 1,000 Blinkit delivery partners have reportedly joined rival companies, beginning this week.
On Tuesday, shares of Zomato surged as much as 8.2% to hit an intraday high of ₹60.58 apiece on the Bombay Stock Exchange after global brokerage firm Citi Bank gave a ‘Buy’ rating for the company. The brokerage firm said that the dining out monetisation program, introduced by both Zomato and Swiggy is medium-term positive. The scrip closed at ₹57.79 on Tuesday. At the end of the trade, the market capitalisation of the company stood at ₹49,430.73 crore as 1,26,75,880 exchanged hands on the BSE, which is higher than the two-week average of 33.91 lakh shares. At present, Zomato shares are down 25.8% than the 52-week high of ₹81.65, while it is up 33% than the 52-week low of ₹40.55.