Wise Travel India’s Fleet Expansion with 1,000 Electric Vehicles

Wise Travel India Ltd, one of the largest and fastest-growing people transportation companies in India, intends to add 1,000 electric vehicles to its fleet this year as part of its comprehensive sustainable mobility drive. The company is expanding in tier II cities like Jaipur, Chandigarh, Indore, and Coimbatore and is also planning to expand to international locations, such as Saudi Arabia and Far East countries. The company is already present in Dubai.

The Founder and CEO of Wise Travel India Ltd, Ashok Vashist, said that this year, the company’s target is sustainability hence, they are inducting electric and bio-CNG vehicles. He stated that they already have over 300 electric vehicles.

Wise Travel India Ltd operates under the WTicabs brand and has a fleet of both individual-owned and third-party vehicles. The founder and CEO said that most electric vehicles would be primarily company-owned. Regarding the investment, he added that somewhere around ₹50 crore will be made on these vehicles, and there is a combination of debt and equity, which will happen. At some of the large hubs like Delhi and Bengaluru, the company is planning to install solar panels to generate electricity, supply it to the grid and take it back to make charging from renewable and sustainable sources possible.

Ashok Vashist said, “We are not only talking about electric, but we are talking about sustainability as a whole, about being robust. We are talking about EVs, bio-CNG and hydrogen also”.

As per Ashok Vashist, WTicabs will be the first company to start commuting people via bio-CNG fuels. Currently, the company has a fleet of about 8,000 vehicles. It serves more than 700 corporate clients with 17 airport counters.

He further added, “WTicabs will also try and explore some new avenues of mobility, which can be a corporate commute, services like corporate hubs to residential condominiums, where there is no tie up with corporates but primarily a B2C kind of arrangements for the corporate clients” for future growth.

In FY 2024, the company reported revenue of ₹409 crore, up from ₹250 crore in FY 2023. According to Ashok Vashist, the company is targeting a minimum of 30-35% growth in FY 2025.

About Wise Travel India Ltd

Wise Travel India Limited provides car rentals and transportation services across 130 cities in India. On April 15, 2024, the Wise Travel India’s share price opened at ₹197.00, touching the day’s high at ₹197.00, as of 9:36 AM on the NSE.

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