Indofast Energy and EVeez to deploy 20,000 e-bikes across India • EVreporter

Indofast Energy, a provider of battery-swapping solutions, is expanding its collaboration with EVeez, a mobility solutions provider, to deploy 20,000 e-bikes in Tier I and Tier II cities, including Chennai, Mumbai, Pune, Jaipur, Lucknow, and Vijayawada, over the next 24 months.

The companies have been working together to support electric vehicle use in last-mile delivery. The latest initiative focuses on extending battery-swapping infrastructure to new locations, aiming to lower operational costs, reduce vehicle downtime, and support delivery operations in quick commerce, e-commerce, and food delivery.

“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 40k 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 joint venture between Indian Oil Corporation Limited (IOCL) and SUN Mobility, operates a Battery-as-a-Service (BaaS) model, providing battery-swapping services for electric two-, three-, and small four-wheelers. The company manages over 900 swap stations across 22 cities and reports approximately 1.2 million swaps per month. EVeez offers electric two-wheelers through a subscription-based model, catering to delivery workers, businesses, and individual users. Its current fleet consists of 7,000 e-bikes deployed in 9 cities, in partnership with various delivery platforms.

Also read: Greaves Electric Mobility and Indofast Energy partner for battery-swapping e-scooter