Rapido co-founder Aravind Sanka said the ride-hailing company is preparing to provide shared taxi services, beginning at Kempegowda International Airport (KIA) in Bengaluru. For its auto rickshaw journeys, the company had previously introduced comparable shared services. Speaking at the Bengaluru Tech Summit 2024’s EV & Future of Mobility session, Sanka stated that the company hopes to build on this success by extending its “shared” product to airport taxis. Early in the upcoming year, the service is anticipated to launch.
Three-wheeler shared rides have already been introduced by Rapido. Due to its expansion into new markets and higher client bookings, Rapido reported a 46% growth in operational revenue at ₹648 crore in the most recent fiscal year. It also reduced its net loss by 45% to ₹371 crore from ₹674.
Innovations in electrification, digital public infrastructure (DPI), and shared mobility are propelling India’s shift to sustainable mobility.
Electrification is expected to be significantly impacted by digital public infrastructure (DPI). “The concept of digital public infrastructure is very critical,” stated Shan MS, co-founder and COO. “We think that electrification depends on open networks and open protocols. Alongside DPI activities, the emphasis should be on facilitating community-driven approaches.”
Ecosystem-focused solutions, such as battery swapping, are speeding up electrification. “Battery swapping lowers costs by dissociating the battery from the vehicle, making it 40% cheaper,” said Anant Badjatya, CEO of Indofast Swap Energy. “The only way to scale electric vehicles is by building ecosystems and partnerships,” said Sameer Aggarwal, CEO of Revfin, emphasizing the importance of collaborations.”