Snap-E Cabs Expands Fleet to 600 Cars with New Collaborations 

Snap-E Cabs Expands Fleet to 600 Cars with New Collaborations 

Snap-E Cabs, an on-demand, app-based fleet of 100% Electric Vehicles (EV), has announced collaborations with Mufin Green Finance, Mahindra & Mahindra Finance, ICICI and HDFC finance to strengthen its fleet of eco-friendly cabs in Kolkata. These strategic alliances are in line with Snap-E Cabs expansion plans for FY ’24, aiming at entry into newer markets of Bhubaneswar and Raipur while doubling the fleet count too.

Mufin Green Finance has partnered with Snap E Cab to provide a fleet of 100 Tata Tigor cars on lease for five years. These vehicles will be utilized as cabs in Kolkata, increasing Snap E Cab’s fleet to 600 from the previous 400 cabs. After the five-year lease term, Snap E Cab can buy back these vehicles from Mufin Green Finance.

Similarly, Mahindra & Mahindra Finance has collaborated with Snap E Cab to lease 50 Tata Tigor cars for a duration of three years. At the end of the three-year lease period, Snap E Cab will have the opportunity to purchase these cars from Mahindra & Mahindra Finance. Additionally, ICICI and HDFC Finance have partnered with Snap E Cab to provide another set of 50 Tata Tigor cars in total. This collaboration will further augment the Snap E Cab fleet in Kolkata, reaching 600 cabs.

“We are delighted to announce these collaborations with Mufin Green Finance, Mahindra & Mahindra Finance, ICICI & HDFC Bank,” said Mayank Bindal, Founder & CEO at Snap E Cab. “These partnerships align with our vision to provide environmentally conscious transportation options to our customers while expanding our reach and enhancing our service offerings,” he added.

The firm concluded that adding these eco-friendly vehicles to the fleet underlines the commitment of Snap E Cab towards reducing its carbon footprint and promoting a cleaner environment.

At present, Snap-E Cabs’ revenue streams is two-fold. Firstly, it caters to the general population of Kolkata, offering reliable and competitively priced transportation services throughout the day. Secondly, it facilitates corporate commutes during the night, ensuring the smooth transit of employees from home to work and vice-versa.

Last year, Kolkata-based firm, Vikram Solar and SnapE Cabs, have entered into a UK-supported Zero Emission Vehicles (ZEV) Declaration. Through this agreement, the two firms are now a part of  accelerating to zero coalition platform.