Flipkart joins hands with Mahindra to accelerate Electric Vehicle
Bangalore based Indian e-commerce company Flipkart incorporated in Singapore as a private limited company. The Initial focus of the company is on the online booking sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products. The main competitors of Flipkart are primarily Amazon's Indian subsidiary and domestic rival Snapdeal. Flipkart held 39.5%. Market share in March 2017. Flipkart has a dominant position in the apparel segment, bolstered by its acquisition of Myntra, and was described as being "neck and neck" with Amazon in the sale of electronics and mobile phones. A unified payment service called Phonepe is also owned by Flipkart.
Mahindra is one of the largest vehicle manufacturers in India and the largest manufacturer of tractors in the world. It is a part of the Mahindra Group, an Indian amalgamation. In 2018 the Mahindra group hit the 17th rank in the Fortune 500 group. The major rival of Mahindra Group is Tata Motors and Maruti Suzuki.
Why are Mahindra and Flipkart in news?
Flipkart tie-up hands with another multinational automotive Indian manufacturing company Mahindra in order to boost the production of Flipkart’s logistics fleet of electric vehicles across the country. The Firm has committed to 100% electric mobility in its logistics fleet and will deploy more than 25,000 electric vehicles (EVs) by 2030. Mahindra Logistics will work with various OEMs(Original equipment manufacturer) and help Flipkart's sustainable transition to EVs. In late 2020, Mahindra launched its own fleet of electric vehicles called EDEL.
What's the Goal behind this tie-up?
Goal behind the tie up is with this partnership Flipkart aims at achieving a sustainable goal, This includes building supporting infrastructure and technology such as charging stations and parking lots, training workforce, route planning and even battery swapping stations in the near future. Not only this but Flipkart also plans to support the campaign ‘Go Green’ initiated by the government and build a green supply chain thus boost up the morale of the Government and environmentalists and set a lesson to its competitors. “We are happy to have Mahindra Logistics on-board as a logistics partner, who will play a major role in helping us achieve our vision of making our logistics fleet fully electric by 2030," said Hemant Badri, senior vice president, supply chain, Flipkart Group.” Not only this but pros of this new engagement are, it will enable customers with a sustainable, cost-competitive and technology enabled last-mile delivery solution.
For now the EDEL will run in important metro cities like Bengaluru, Mumbai, Delhi, Pune, Kolkata, and Hyderabad, and will expand its operations to nearly 20 cities by year-end, while facilitating Flipkart’s transition towards EVs. Their main focus is on expanding their network based on their deep partnership with large enterprise customers. They are pleased about this engagement with Flipkart and look forward to partnering with them," said Rampraveen Swaminathan, chief executive and managing director, MLL. Flipkart is also chasing other big giants of the automobile sector like Hero Electric, Mahindra Electric and Piaggio, to ramp up it’s EVs logistics fleet in the country. In line with its sustainability vision, the company has also been coping up with several ecosystem partners on many areas of electric mobility, including vehicle design, range, load capacity, etc., to build customized vehicles that are best suited for the e-commerce industry.
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