M&M Ventures Into Ride-Sharing Category with Glyd

Mahindra & Mahindra has officially forayed into the ride-sharing segment in India with the launch of Glyd. This is a one of its kind electric car ride-sharing service that is majorly focusing on the regular office commutes of users with added features such as curated entertainment, music and offerings along with web-conferencing facilities. Mahindra & Mahindra has tied up with Vodafone, Cisco and other players in Mumbai for providing this service. It has already rolled out the very first lot of 10 e-Verito units for Glyd in Mumbai.

Mahindra & Mahindra ventures into ride-sharing category with Glyd

Mahindra Ride-Sharing Category with Glyd

According to the Managing Director at Mahindra & Mahindra, Dr. Pawan Goenka, Glyd will be a premium and flagship e-mobility offering that will transform regular commuting experiences. He added that daily commutes will become smarter and more experiential with Glyd.

He also confirmed that Mahindra & Mahindra is thinking of launching various such solutions throughout different Indian cities. Mahindra & Mahindra had previously inked an agreement with Ola for providing EVs to the latter. Ola had also declared Mission Electric in 2018 with a firm commitment towards offering 10,000 e-rickshaws along with electric auto-rickshaws on Indian roads over a period of one year.

The company has also scaled up its overall commitment towards scaling up its electric vehicle fleet in three other Indian cities which have not been confirmed yet along with the Nagpur pilot project. The company is aiming at having more than 1 million EVs on Indian roads by the year 2021 as per reports. Ola will also be working with various city agencies and corporations, manufacturers of vehicles, driver partners and also battery companies for introducing more viable and cost-effective technologies for commutes which are sustainable.

Mahindra & Mahindra has already tied up with ZoomCar and invested in the same as well. ZipGo, the online bus aggregator from Bangalore, has also raised funds of Rs. 300 crore and will be shifting to EVs soon. Being the world’s 5th biggest automobile market, India has crude oil import bills touching almost a whopping $85 billion this year as per the Oil Ministry’s official site. India imports around 82% of its oil requirements. The Central Government has previously stated that a shift to EVs will help it lower this crude oil import bill to the tune of $60 billion along with lowering overall emissions by a handsome 37%.

Along with Mahindra & Mahindra, Tata Motors has also got into the EV space and Maruti Suzuki and Hyundai will also be releasing their EV range in the near future. Additionally, other prominent players in this sector include the two-wheeler makers Ultraviolette, Ather Energy and Ampere while an electric tractor prototype is being worked on by AutoNxt from Mumbai. Avon from Hero MotoCorp is also gaining ground in what is turning out to be a highly competitive market.

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