The investment will support Zingbus in scaling its operations, transitioning traditional bus fleets to electric vehicles, and utilising Jio-bp pulse’s charging network to improve reliability and accessibility in intercity travel.
18 Dec 2024 | 2834 Views | By Autocar Professional Bureau
bp Ventures has invested $9 million in Zingbus, a Delhi-based intercity bus platform, as part of its Series A funding round. Zingbus offers technology-driven solutions for bus operators and passengers, focusing on fleet management, route optimization, pricing, and ticketing through its digital platform.
India’s extensive road network, the ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
bp Ventures has invested $9 million in Zingbus, a Delhi-based intercity bus platform, as part of its Series A funding round. Zingbus offers technology-driven solutions for bus operators and passengers, focusing on fleet management, route optimization, pricing, and ticketing through its digital platform.
India’s extensive road network, the second largest globally, spans approximately 6.4 million kilometers, with around 50 million people traveling between cities daily. Since its establishment in 2019, Zingbus has partnered with small and medium-sized bus operators, serving over two million users across 300 cities. The company aims to address challenges such as service reliability and accessibility while promoting safer and more efficient intercity travel.
Zingbus’ platform is designed to support traditional bus operators in transitioning from internal combustion engine (ICE) buses to electric vehicles (EVs). Prashant Kumar, co-founder and CEO of Zingbus, highlighted the cost benefits of EVs compared to diesel buses and the opportunities created by the Indian government’s target of a fully electric bus fleet by 2030. “Our platform streamlines the transition to electric buses while addressing operational challenges, creating a scalable model for the future,” Kumar stated.
The company has also signed a commercial agreement with Jio-bp pulse, the joint venture between Reliance and bp, to utilize its EV charging network. Jio-bp pulse operates a network of charging hubs and public fast-charging points in cities and along highways, recently reaching its 5,000th charge point milestone.
Gareth Burns, Vice President of bp Ventures, noted that Zingbus’ platform benefits both operators and passengers by offering a cost-effective and reliable intercity travel solution. He added that this investment aligns with bp Ventures’ focus on supporting innovations in sustainable energy and mobility.
Kartikeya Dube, Head of Country at bp India, stated that this partnership enhances bp’s energy and mobility offerings in India, supporting the expansion of electric vehicles while providing a range of energy solutions for customers.