New Delhi, Wise Travel India Ltd, a B2B transportation solutions provider, plans to add 1,000 electric vehicles to its fleet this year as part of its overall sustainable mobility drive, according to its Founder and CEO Ashok Vashishtha.
The company is expanding into India's tier II cities such as Chandigarh, Jaipur, Coimbatore and Indore, and is looking for an international presence in Saudi Arabia and countries in the Far East.
“This year, our main focus is on sustainability, where we are including vehicles that are electric and bio-CNG… We already have more than 300 cars that are electric. This year, we are looking at 1,000 "Will include more electric cars." And electric buses,” Vashishtha said.The company, which operates under the WTicabs brand, also has personally owned vehicles from third parties in its fleet. As for electric vehicles, he said most of these would be primarily company-owned.
When asked about the investment for this, he said, "Around Rs 50 crore will be invested on these vehicles, and there is a combination of debt and equity that will happen."
As for the EV initiative, he said that at some of the big hubs like Bengaluru and Delhi, the company will install solar panels to generate electricity, supply it to the grid and take it back to make charging from renewable and sustainable sources possible.
On the overall sustainable mobility initiative, he said, “We are not just talking about electric, but we are talking about sustainability holistically, about being strong.We are also talking about EVs, bio-CNG and hydrogen.”
On bio-CNG, he said, “This is something new that has come, and we will be the first company to start making people travel through bio-CNG fuel. It is absolutely sustainable. Let's see how much we invest in bio-CNG. " Project".Currently, WTicabs has a fleet of around 8,000 vehicles and has a presence in different parts of the country. It serves over 700 corporate clients with 1 airport counter.
On the company's international expansion, Vashishtha said, "We have opened in Dubai. We want to go to Saudi Arabia. We are also looking at some countries in the Far East.,
"In India, we want to expand into tier II cities and strengthen our position in all major metros," he said.
He said that even corporates are moving to Tier II cities like Jaipur, Coimbatore, Indore and Bhubaneswar and these cities are getting a lot of attraction with some very big IT, ITES and financial companies moving there.
Additionally, he said, WTicabs will also try to "explore some new avenues of mobility, which could be corporate commute, corporate hubs and services like residential condominiums, where there is no tie-up with corporate, but primarily B2C type of services." The arrangement is for future growth of corporate customers”.
In terms of revenue, Vashishtha said the company closed FY24 at Rs 409 crore, up from Rs 250 crore in FY23.
For FY2015, he said the company is targeting at least 30-35 percent growth.“It has been a CAGR so far. So, we should continue the same kind of growth,” he said.
The company is expanding into India's tier II cities such as Chandigarh, Jaipur, Coimbatore and Indore, and is looking for an international presence in Saudi Arabia and countries in the Far East.
“This year, our main focus is on sustainability, where we are including vehicles that are electric and bio-CNG… We already have more than 300 cars that are electric. This year, we are looking at 1,000 "Will include more electric cars." And electric buses,” Vashishtha said.The company, which operates under the WTicabs brand, also has personally owned vehicles from third parties in its fleet. As for electric vehicles, he said most of these would be primarily company-owned.
When asked about the investment for this, he said, "Around Rs 50 crore will be invested on these vehicles, and there is a combination of debt and equity that will happen."
As for the EV initiative, he said that at some of the big hubs like Bengaluru and Delhi, the company will install solar panels to generate electricity, supply it to the grid and take it back to make charging from renewable and sustainable sources possible.
On the overall sustainable mobility initiative, he said, “We are not just talking about electric, but we are talking about sustainability holistically, about being strong.We are also talking about EVs, bio-CNG and hydrogen.”
On bio-CNG, he said, “This is something new that has come, and we will be the first company to start making people travel through bio-CNG fuel. It is absolutely sustainable. Let's see how much we invest in bio-CNG. " Project".Currently, WTicabs has a fleet of around 8,000 vehicles and has a presence in different parts of the country. It serves over 700 corporate clients with 1 airport counter.
On the company's international expansion, Vashishtha said, "We have opened in Dubai. We want to go to Saudi Arabia. We are also looking at some countries in the Far East.,
"In India, we want to expand into tier II cities and strengthen our position in all major metros," he said.
He said that even corporates are moving to Tier II cities like Jaipur, Coimbatore, Indore and Bhubaneswar and these cities are getting a lot of attraction with some very big IT, ITES and financial companies moving there.
Additionally, he said, WTicabs will also try to "explore some new avenues of mobility, which could be corporate commute, corporate hubs and services like residential condominiums, where there is no tie-up with corporate, but primarily B2C type of services." The arrangement is for future growth of corporate customers”.
In terms of revenue, Vashishtha said the company closed FY24 at Rs 409 crore, up from Rs 250 crore in FY23.
For FY2015, he said the company is targeting at least 30-35 percent growth.“It has been a CAGR so far. So, we should continue the same kind of growth,” he said.
