BLive, Chartered Bike ink Rs 120 crore MoU

BLive, a Bengaluru-based electric vehicle platform, has signed a Memorandum of Undertaking (MoU) with Chartered Bike (CBPL) for around Rs 120 crore. The estimated deployment is in three phases, Rs 30 crore in the first year, Rs 40 Cr in the second, and Rs 50 crore in the third year. 

The partnership between BLive and CBPL is aimed at helping last-mile delivery companies resolve the supply gap of electric vehicles in the market. The MoU will resolve this issue by helping these organisations deploy vehicles nationwide, with a focus on Tier II cities.

Samarth Kholkar, CEO & Co-Founder, BLive said that with a focus on electric vehicles for their delivery fleet, last-mile delivery service providers have been a major accelerator of India’s electric mobility revolution. "The use of electric vehicles will significantly reduce the cost of operation and energy expenses. The lower operating costs, simple mechanism, and low maintenance make EVs a winning proposition for the last-mile delivery service providers,” he added. 

Param Mandloi, Co-Founder of CBPL said, "Our electric delivery vehicles make it easy for businesses to meet their customers' needs while minimising their impact on the environment. In Blive, we have an able partner to drive this mission forward while making mobility cleaner and greener.”

Chartered Bike is a provider of electric mobility solutions, specialising in public bike sharing, in-campus mobility, e-commerce delivery, and last-mile delivery services.