Yamaha Motor’s MBSI enters electric two- and three-wheeler leasing biz in India

The company is partnering Chennai-based FullFily, an all-electric sustainable energy-powered EV vehicle company in the last-mile delivery services for its two- and three-wheeler asset management services.

Yamaha Motor’s MBSI enters electric two- and three-wheeler leasing biz in India

Moto Business Service India (MBSI), a Yamaha Motors leasing company is entering the electric vehicle segment. The company is partnering Chennai-based FullFily, an all-electric sustainable energy-powered EV vehicle company in the last-mile delivery services for its two- and three-wheeler asset management services.

MBSI plans to deploy 2,000 EVs across Tamil Nadu with FullFily and other last-mile delivery partners in the next few months, Yamaha as of now will be launching 50 units of Omega Seiki Rage+ electric three-wheelers and 200 Hero NYX electric two-wheelers, marking the first introduction from the partnership.

With a focus on shared mobility space, MBSI provides vehicle leasing and support services for tech startups with similar interest areas. 

The partnership also marks MBSI’s 9th investment in 2022. Their first investment was with Royal Brothers – a bike rental company, followed by Rentelo – a two-wheeler rental platformer in Bengaluru. It has also invested in Malbork – a Bengaluru-based all-electric sustainable energy-powered vehicle service company, and Rapido – a two- and three-wheeler ride-hailing platform. 

Its other investments include Mother POD, Soujanya Travels a Bengaluru-based all-electric four-wheeler taxi, and an employee transportation company. MBSI has also partnered with last-mile delivery companies in Delhi, Hyderabad, and Bengaluru. 

Aiming to increase the shared mobility usage and create employement, MBSI, for the past six months plans to invest Rs 200 crore in the vehicles they manage this year and has already around 1,500 assets in their bucket. The target is to manage 10 lakh vehicles by FY2028. 

The company further plans to procure IC-vehicle and EVs – deploying two-, three-, four-wheeler’s and EVs for delivery/rental platforms, taxi aggregators, last-mile logistics companies across India. 

Shoji Shiraishi, MD, MBSI said, “We 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 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 1.4 billion 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, Fullfily said, “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. 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.”

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