Indian startup Zypp Electric plans to use fresh investment from Japanese oil and energy conglomerate ENEOS to take its EV rental service into Southeast Asia early next year.
Indonesia, Thailand, and the Philippines are potential markets for Zypp Electric due to being two-wheeler-centric countries handling numerous deliveries.
Zypp Electric's platform caters to e-commerce and gig economy workers with ebikes available for rent, with gig workers contributing to 28% of revenue.
The startup is also considering expanding to the Middle East as part of its global expansion strategy, with early talks underway.
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