Magenta Mobility & Switch Mobility Signs MoU To Procure 500 SWITCH IeV4

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Integrated electric mobility solutions provider Magenta Mobility and Switch Mobility, the electric vehicle arm of the Hinduja Group have signed an MoU to procure 500 SWITCH IeV4 (Intelligent EV) over two years.

The MoU was signed by Maxson Lewis, Founder & CEO of Magenta Mobility, and Mahesh Babu, CEO of Switch Mobility in the presence of multiple clients.

Maxson Lewis, Founder & CEO of Magenta Mobility said “We are thrilled to join hands with Switch Mobility to accelerate our commitment to decarbonize logistics in India. This collaboration underscores our unwavering dedication to spearheading the transition towards safe, smart, and sustainable mobility solutions. With these eLCVs, we will be able to offer an increased payload capacity to our clients. Combined with our existing fleet management, charging, and technology platforms, we will be offering a strong opportunity for the logistics sector to go electric. This is just the beginning of our association and together, we aim to redefine the future of logistics in India.”

Recently, Magenta Mobility and logistics firm Kuehne+Nagel announced a partnership aiming at decarbonising road freight in India. Magenta Mobility recorded an approximate threefold rise in scale to Rs 18.7 crore in the fiscal year ending March 2023. The same year, operations contributed over 63% of the total revenue. It generated a revenue of Rs 6.3 crore in the preceding fiscal year with close to Rs 6 crore coming in from operations. Currently, Magenta Mobility has a fleet of over 200 3-wheeler and 4-wheeler vehicles across Bengaluru. It provides last-mile clean mobility to e-commerce businesses such as Amazon, Flipkart, BigBasket, Porter, and Udaan.