About 10% of the total national greenhouse gas(GHG) emissions are from the transportation sector in India, with road transportation contributing to 87% of the total emissions. To combat this, the shift to Electric Vehicles(EVs) by Solv has begun.
This transition by the company is to fulfill the order of 200,000+ MSMEs. The B2B ecommerce start-up aims to transition 100% of its deliveries to EVs in the next 3-5 years. Expensive fuel costs will be saved by this eco-friendly transportation.
After its commercial launch 18 months ago, Solv has grown rapidly with the number of KYC-verified MSMEs doubling from 100,000 to 200,000+ in just the last quarter, while its GMV run-rate also doubled from INR 1200 Cr to about INR 2000 Cr during the same period. The company currently serves MSMEs in volume-driven consumer segments in India like Grocery & FMCG, Apparel, HoReCa, Consumer Electronics, Footwear & Accessories and Home Furnishing across 200+ cities in India.
Amit Bansal, CEO, Solv commented “We have an ambitious target to transition 100% of our goods deliveries to MSMEs via electric vehicles within a couple of years. With an estimated US$ 800 billion worth of goods moved by the MSME sector in India’s retail sector every year, we hope this move will spur accelerated adoption of more green initiatives in the MSME B2B sector.”
Dr Arunachalam MD & CEO , IBOB – SF International, said “With fossil fuel shortage, higher pollution levels and hiking prices across industries, the gradual shift to electric vehicles is the future for logistics. Initiatives like this will benefit not just Solv but also the overall MSME sector and the country in the medium and long term.”