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Zypp Electric targets 5x fleet in 2-3 years
Business Standard
|November 25, 2025
Gurugram-based EV-as-a-service startup Zypp Electric is preparing for a major scale-up as it targets an initial public offering (IPO) amidst its nationwide expansion, cofounder and CEO Akash Gupta said in an interaction on Monday.
The company, which currently operates 20,000 electric two-wheelers across Delhi-NCR, Bengaluru, and Mumbai, plans to expand its fleet five-fold to 100,000 vehicles over the next two to three years.
The company aims to enter 25 cities and capture 10-12 percent of all last-mile deliveries in these markets. Zypp already holds 12-13 per cent market share in Delhi, 6-7 per cent in Bengaluru, and around 4 per cent in Mumbai including ICE vehicles.
On an EV only basis, Zypp accounts for 60-65 per cent share in these cities, Gupta said.
Gupta added that Zypp has achieved profitability and is now targeting ₹1,000 crore in revenue in the next financial year, supported by 12-15 per cent earnings before interest, taxes, depreciation, and amortisation (ebitda) margins.
This story is from the November 25, 2025 edition of Business Standard.
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