The XL Electric Vehicle Fleet is Launched in Gurugram by Swiggy to Meet Large Orders

With the aim of effectively managing bulk orders, the food delivery startup Swiggy, preparing for an IPO, has formally introduced its XL electric vehicle (EV) fleet in Gurugram. This new service was launched on 5 September 2024, following a fruitful trial period throughout the holiday season.

The debut of Swiggy Food Marketplace is timed to coincide with a rise in demand for bulk purchases when family and friends get together to celebrate, according to Sidharth Bhakoo, National Business Head. Since food is intimately linked to good times and laughter, Swiggy is seeing a rise in demand for large orders during get-togethers amongst friends and family. According to Bhakoo, owing to the on-going festive season, when there is happiness and cheer around, it is the right time to roll out this service. 

High-Tech Vehicle Will Deliver the Food

Temperature-controlled compartments are a feature of the XL fleet that guarantee food quality while in transit. During the Haryana state assembly elections, the fleet has already provided 3,500 meals to election officials at over 580 voting places in the constituencies of Gurugram and Badshahpur since the launch of this service.

Twenty Swiggy XL EVs provided officials with three meals spread over two days, giving them the vital nourishment they needed throughout the challenging election season. The Deputy Commissioner of Gurugram, Nishant Kumar Yadav, praised Swiggy for their role in the election process and urged them to keep up their civic engagement.

The initiative's environmental benefits were emphasised by Sidharth Bhakoo, who pointed out that the all-electric fleet reduces carbon emissions by minimising the need for several delivery journeys.

This debut comes after Swiggy recently unveiled "Bolt," a 10-minute meal delivery service that can be found in major cities including Bengaluru, Chennai, Hyderabad, Delhi, Mumbai, and Pune and that delivers food within a 2-kilometre radius.

Company’s Financial Report Card

The business also recently introduced "Cafe," a service that delivers snacks and drinks in 15 minutes. Despite these advancements, Swiggy's losses increased by 8.31% year over year to INR 611 crore in the first quarter of FY25, and the company recorded slower growth than its competitor Zomato.

Currently gearing up for its impending initial public offering (IPO), the foodtech business has gained clearance from shareholders to raise the new issue size to INR 5,000 crore. In order to maintain its competitive edge in the food delivery industry, Swiggy is getting ready to expand its XL EV fleet to include additional cities in addition to Gurugram.

Swiggy Filed an Updated DRHP With SEBI for Its INR 3,750 crore IPO

The draft red herring prospectus (DRHP) was submitted to SEBI, the markets regulator, by food aggregation and grocery delivery platform Swiggy on 26 September 2024.

StartupTalkyNitin Konde