Snap-E Cabs, an app-based fleet of 100% Electric Vehicles (EV), provides a reliable eco-friendly public electric transport service that allows people to travel safely, without any delays at an affordable price.
Speaking on the challenges faced in e-mobility industry with Aishwarya, Mayank Bindal, Founder and CEO, Snap-E Cabs has highlighted the impact of recent standards set by BIS on the electric vehicle segment.
Tell us about Snap-E’s key services and their USP that separates them from its competitors.
Table of Contents
Snap-E Cabs is a 100% Electric, 0 Surge, 0 Cancellation and eco-friendly ride hailing urban public transport service which is best in class, hygienic and allows people to travel safely, without any delays at an affordable price. We have a hybrid model where we work in both B2B and B2C space ensuring our utilization of assets is high.
Our major USP’s are:
1. No Cancellation
2. No Surge Pricing
3. 100% Electric
What are the key challenges the E-Mobility sector in India is facing currently and how will the amendments in BIS standards impact the sector?
Adoption of EV’s is increasing YoY but there are multiple challenges as well. One of the biggest challenges is the upfront capital cost in procuring the EV’s. Currently EV’s are priced 30-40% higher than that of ICE vehicles. Secondly the charging facilities are still short and somehow there is always the range anxiety that comes in everyone’s mind. Since these cars are free from any tailpipe emission, they have least threat as per the BIS standards.
Fleet management has become a driving force in transforming the transportation sector. How do you see the integration of next-gen technologies affecting overall growth of the company?
Since the technology is getting better by the day, fleet management is becoming easier. For example, we have all the data from each and every car at our NOC (Network Operation Centre). All the cars are fitted with GPS which can capture all the data like, Kms run, SOC (State of Charge), health of the battery, service requirements etc. This along with the application based operations help us to monitor everything from the behavior of the car and the driver. Also, with EV’s the service and maintenance cost is very low and the requirements to send the cars for servicing is also very low. Therefore it becomes easier to manage the fleet.
Sustainability has become the key anthem of every business. What’s your opinion on this? Where do you see the scope of net carbon neutrality initiatives in the upcoming days?
Today one of the major concerns for the world is carbon emission. Road transport is a substantial contributor to this global warming. In my opinion, this conversion from ICE to EV is quite essential in contributing to achieve the net 0 goals. Also, since we are using non-renewable energy to recharge the cars, the overall effect is still far from positive. We are working on various methods to get our EV’s charged through a renewable source of energy where this effect would be 100 times more effective and we can truly achieve the net 0 targets.
Any upcoming plans for expansion in the near future and what are your targets for FY 2023-24?
We are currently at 600 Cars. We expect to reach about 800 Cars by the end of FY24. We expect to reach a total of 2500 Cars by the end of FY 25. We are also expanding in other geographies. Hopefully by next year this time we should be present in 2-3 more cities.