Indofast Energy and EVeez to Deploy 20,000 E-Bikes Across India

Indofast Energy and EVeez announced a partnership to deploy 20,000 electric bikes across major Indian cities over the next 24 months. The initiative aims to expand battery-swapping infrastructure in Tier I and Tier II cities, including Chennai, Mumbai, Pune, Jaipur, Lucknow, and Vijayawada, to support last-mile delivery partners in quick commerce, e-commerce, and food delivery sectors.

The collaboration builds on an existing partnership between the two companies and represents a significant expansion of their efforts to accelerate electric vehicle adoption in India's last-mile delivery space. The initiative is designed to make electric mobility more accessible and efficient for gig workers by reducing operational costs and minimizing vehicle downtime.

"This partnership is not just about adding more e-bikes and swapping stations—it's about building an energy ecosystem that transforms urban logistics. We do over 40,000 swaps every day and have over 900 swapping stations across the country. Our OEM-agnostic battery-swapping infrastructure allows any fleet player or retail customer to easily access our network for their fleet—across two- and three-wheelers. By 2030, we envision a seamless, city-wide battery-swapping network that powers everything from delivery fleets to ride-hailing services, accelerating India's journey toward net-zero emissions," said Rajat Malhan, Senior Vice President, Indofast Energy.

"This strategic partnership with Indofast Energy allows EVeez to significantly accelerate our expansion into Tier II cities, where we're witnessing tremendous growth in quick commerce and delivery services," said Gaurav Rathore, Co-founder and CEO of EVeez. "By combining our electric mobility solutions with Indofast Energy's extensive battery-swapping infrastructure, we're not just deploying vehicles—we're creating sustainable livelihood opportunities for thousands of gig workers in emerging urban centers. The quick commerce tailwinds in these cities present a perfect opportunity to simultaneously drive EV adoption and economic empowerment. This collaborative approach enables us to overcome traditional barriers to EV adoption by offering a reliable, cost-effective solution that meets the dynamic needs of last-mile delivery partners across India."

Indofast Energy, a 50:50 joint venture between IndianOil Corporation Limited (IOCL) and SUN Mobility, currently operates over 900 swap stations across more than 22 cities, handling approximately 12 lakh battery swaps monthly. Their Battery-as-a-Service model allows two-wheelers, three-wheelers, and small four-wheelers to exchange depleted batteries for charged ones in seconds.

EVeez, a provider of electric mobility as a service (eMaaS), currently maintains a fleet of 7,000 e-bikes across 9 cities. The company offers subscription-based access to electric two-wheelers, eliminating ownership barriers for delivery partners, businesses, and individual consumers.