New Energy Vehicles

22 Feb 2022

Shadowfax Tech Targets 75% of its Fleet in EVs by 2024; Full Electrification by 2026

22 Feb 2022  by   
Shadowfax Technologies, a crowdsourced platform for last-mile deliveries, on Monday said it aims to have 75 per cent of its fleet in electric vehicles by 2024 and full electrification by 2026 as part of its long-term growth goals. This adoption of EVs is part of a global effort to make logistics more sustainable with the zero pollution campaign.

By introducing this initiative, Shadowfax seeks to transform the industry and introduce a proactive measure to reduce carbon emissions, bringing a new approach to the last-mile logistics space that is environment-friendly, the company said in a statement.

The commercial EV market is growing with various aspects, including the availability of vehicles, corporate net-zero responsibilities and carbon pricing providing the additional impetus for substantial growth of electrification of last-mile delivery fleets in India, according to the statement.

Despite its many advantages, the electric vehicles (EV) space currently faces a lot of challenges - be it the limited support in the form of loans from financial institutions for EVs, the still-developing charging infrastructure or lack of trusted cost-effective original equipment manufacturers (OEMs).

Shadowfax is holistically trying to solve all challenges in the EV space by involving strategic partnerships to enable seamless adoption. The network-level traction witnessed so far is promising and beneficial for all stakeholders, it added.

The company said it has with its IP technologies built a platform that is unique and sustainable as it is optimised for various parameters such as vehicle speeds, customer expectations, willingness and ability to pay.

It is leading the two-wheeler market adoption of zero-carbon emission means of last-mile with 30 per cent daily active users of its over one-lakh strong crowdsourced platform using cycles, EVs and other eco-friendly means, the company said.

"We are thrilled with the expansion of our EV fleet. With the EV and e-store initiatives, our target on first-time users and new categories like women partners would be fast-tracked," Shadowfax Technologies co-founder and CEO Abhishek Bansal said.

According to Bansal, Shadowfax is also participating in the NITI Aayog project, 'Shoonya- Zero Pollution Mobility', which is relentlessly driving the EV agenda.

"Being an asset-light platform, we have taken an extensive aggregator-centric approach, where we provide matchmaking between vehicle owners, OEMs, rental models, and delivery partners.

"Since the launch of these services on our e-store, we have seen tremendous interest coming from partners. More than 50 lenders, OEMs and vehicle owners have already registered before the official launch of e-store on our app," Ankit Kala, vice-president (operations and strategy) of Shadowfax Technologies, said.

The on-demand tech-enabled instant logistics B2B2C platform caters to multiple end-customer categories, including food and grocery delivery, quick commerce, multi-city e-commerce fulfilment, and reverse logistics via a single platform.

With a growing base of over one lakh rider partners, Shadowfax serves over 170 enterprise clients across over 700 cities, delivering over one million orders every day, according to the statement.


More News