How Zomato is planning to make 100% Food deliveries on Electric Vehicles by 2030

Zomato is the one of the largest food delivery startups in India. It is a multinational company which was founded in the year 2008 having its headquarters in Gurgaon, Haryana. The startup’s service is available in almost 24 countries and more than 10,000 cities. Zomato has announced that they would adopt to Electric Vehicles by 2030. Let’s look at how the startup is planning to do 100% food delivery on Electric Vehicles.

Zomato – Latest News
What Deepinder Goyal said
Barriers Zomato will face in adopting 100% Electric Vehicles
Zomato’s strategy in adapting 100 electric vehicles delivery
Companies other than Zomato looking for transition to electric vehicles
FAQ

Zomato – Latest News

Zomato which is a Bangalore based food tech company has announced that they were planning to adopt to shift their food delivery service to Electric vehicles by the end of 2030. In the month of May, the company had announced its plans to provide funding towards environmental projects in order to reduce the emission of carbon into the atmosphere.

The company had also conveyed through a blog post that they would join the EV-100 which is a global initiative by the companies in order to shift towards Electric Vehicles.

What Deepinder Goyal said

The co-founder and the CEO of Zomato, Deepinder Goyal had conveyed through a blog post that the company was already making a number of deliveries using Electric Vehicles in the major cities which include Bangalore, Delhi, Mumbai, etc. and added that the company will try and fully adapt towards Electric Vehicles by 2030.

He further added that the current food delivery through Electric Vehicle is hardly a few compared to the active delivery partners and added that the company understands that it is hard to adapt to 100% EVs but it is considered to be a necessity in the long run.

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Barriers Zomato will Face in adapting 100% Electric Vehicles

In order to adapt to 100% Electric Vehicles there are a lot of barriers faced by the company. Currently, the adoption rate is very low for the company as well as the two-wheeler industry. There are a certain set of barriers that currently impact the two-wheeler industry in general which include lack of infrastructure which is the charging stations, limited battery range, higher cost, and lack of brand loyalty in the new technology.

Zomato’s strategy in adapting 100% electric vehicles delivery

Zomato has been working towards adapting to the Electric Vehicle and has been actively engaging with certain Electric Vehicle players. They have been trying to come up with certain personalized designs for the company and also have been working towards creating business models that would help in making the transitions towards the Electric Vehicle sector much more easier and faster.

In February 2021, the company had raised an amount of USD 250 million from its existing set of investors which include Tiger Global, Kora and Fidelity.

Companies other than Zomato looking for transition to electric vehicles

Zomato is not the only company that is working towards adaption of the Electric Vehicles in their business operation. Flipkart which is owned by Walmart had also announced that the company is looking forward to deploying around 25,000 Electric Vehicles by 2030.

Flipkart has also joined the climate group’s initiative of EV100 and the transition is a part of its commitment towards to climate group to change the logistic fleet to Electric Vehicles. The e-commerce giant has already started using the 2-wheeler and 3 wheeler Electric Vehicles in the major cities that include Pune, Hyderabad, Kolkata, Delhi, Guwahati, etc.

Even Amazon has pledged towards the EV100 initiative and announced that they would introduce 10,000 Electric Vehicles for delivery and also introduce around 1 Lakh Electric Vehicles by 2030 as part of its commitment.

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Conclusion

Zomato is looking to make the company public and has been preparing for IPO which is considered to be one of the largest IPO. The company has also reported that they are doing well and said that their performance has crossed their expectations. Amidst the lockdown and restrictions laid down due to Covid 19 people are turning towards the online food delivery.

FAQ

What is the net worth of Zomato?

Zomato had a net income of US$350 million in 2020.

Who is owner of Zomato?

Deepinder Goyal is founder and CEO of Zomato.

What is the valuation of Zomato?

The valuation of Zomato is $5.4 billion dollars after the recent investment of $250 million by Tiger Global, Kora and others.