Solv has declared its transition towards Electric Vehicles (EVs) for its delivery services to MSMEs.
Solv expects 25% of all its goods deliveries to MSMEs to be fulfilled within a year using electric vehicles.
Commenting on the launch of Solv EVolve, Amit Bansal, CEO, Solv said “Solv is extremely proud to launch Solv EVolve – our environment-friendly initiative to reduce the carbon footprint generated in retail supply chains, especially in the unorganized MSME sector in India. We have an ambitious target to transition 100% of our goods deliveries to MSMEs via electric vehicles within a couple of years. With an estimated US$ 800 billion worth of goods moved by the MSME sector in India’s retail sector every year, we hope this move will spur accelerated adoption of more green initiatives in the MSME B2B sector.”
Arunachalam MD & CEO, IBOB – SF International, said “We are honored to launch ‘Solv EVolve’ with India’s fastest-growing and one of the most progressive B2B marketplaces, Solv. With fossil fuel shortage, higher pollution levels and hiking prices across industries, the gradual shift to electric vehicles is the future for logistics. Initiatives like this will benefit not just Solv but also the overall MSME sector and the country in the medium and long term.”
Solv aims to transition 100% of its deliveries to EVs in the next 3-5 years. The move to eco-friendly transportation will save expensive fuel costs, keep prices in check for customers thereby helping arrest inflation, and reduce Solv’s & the MSME sector’s carbon footprint and help the sector grow responsibly.
Currently, India’s transportation sector contributes about 10 percent of total national greenhouse gas (GHG) emissions and road transportation contributes about 87 percent of the total emissions in the sector.
Solv has been growing rapidly since its commercial launch just 18 months ago. The number of KYC-verified MSMEs on its platform doubled from 100,000 to 200,000+ in just the last quarter, while its GMV run-rate doubled from INR 1200 Cr to about INR 2000 Cr during the same period.
Solv’s growth has been driven by innovations and the roll-out of new products for its MSME users.
Solv currently serves MSMEs in volume-driven consumer segments in India like Grocery & FMCG, Apparel, HoReCa, Consumer Electronics, Footwear & Accessories and Home Furnishing across 200+ cities in India.
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