The global Electric Commercial Vehicle market size is projected to reach $1,78,560 million by 2026
City Link Portal Pvt. Ltd., (City Link) a city logistics start-up, has taken delivery of its first set of Electric Cargo Vehicles (EV) from Mahindra and Mahindra. City Link noted that it is the first company in Bangalore to receive the ‘Mahindra Treo-Zor’ vehicles which will help it position itself aggressively in the rapidly expanding ‘Last Mile’ delivery space, under its ‘Think Green. Think EV’ initiative.
“The EV foray is our firm resolve to grow responsibly and continue to bring value to all our customers, vendor partners and drivers,” said R Jayakumar, the founder and investor of City Link.
He added, “Though we are a start-up; we do not believe in any kind of wasteful BURN, CASH OR FUEL. Our objective is wealth and value creation with equal emphasis on environment protection, and we are committed to passing on a cleaner legacy to gen next.”
The company is looking to add 100 to 120 EVs into its fleet by the end of 2021. The company is convinced that besides being environment friendly, EVs are expected to drive ROI and bring down Delivery costs when compared to existing alternatives.
The global Electric Commercial Vehicle market size is projected to reach $1,78,560 million by 2026, from $1,10,540 Million in 2020, at a CAGR of 8.3 per cent during 2021-2026. Major factors driving the growth of the Electric Commercial Vehicle Market size are increasing electrification of public transport fleets, stringent government regulations, and advancements in battery pack technologies and electric power trains.
“Asia-Pacific is expected to witness the highest growth during the forecast period. This rapid growth of the region is attributed to the growing need to reduce the level of pollution. Moreover, it is anticipated that South Korea and Japan will invest heavily in the creation of the infrastructure required, such as charging stations, to support market growth,” read a latest research by Valuates Reports.
