In a move that electrifies the Indian rideshare scene, Uber has taken the wheel and has led a $20 million investment round into Everest Fleet, a Mumbai-based fleet management company.
Everest Fleet currently operates over 10,000 vehicles on rideshare platforms Uber and Ola across India and Uber knows that joining forces with fleet management experts like Everest would significantly boost its ride-share drivers seeking reliable wheels through the expertise of fleet management professionals.
This is why the primary focus of the investment is to expedite Everest Fleet's transition to electric vehicles (EVs), with an ambitious goal of having 10,000 EVs in its fleet by 2026.
Another thing worth mentioning is that the move aligns with Uber's Green India initiative, which forms a key part of the company's comprehensive plan to achieve carbon neutrality by 2040. Recognizing the region's pivotal role in its global growth strategy, Uber has set its sights on bringing more than 1 million EVs onto its platform in India and South Asia, driving a transformative shift towards sustainable mobility solutions.
To turn this ambitious vision into reality, Uber forged a partnership with Tata Motors in February, aiming to infuse 25,000 EVs into its fleet in collaboration with esteemed fleet providers like Everest, Lithium, and Moove. With this, Uber is driving a comprehensive approach to foster EV adoption and sustainable mobility solutions.
With the newly acquired funds, Everest Fleet also aims to expand its operations beyond its current stronghold in Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Kolkata, and Pune, venturing into other major Indian cities and even global markets.