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India’s EV Taxi Market: B2C Is Where Amateurs Go To Die, The Real Power Rests In B2B

By AltG Research On Behalf Of Poornima Vardhan & Taponeel Mukherjee

Photo of EV Cab

As the EV opportunity opens up worldwide, India’s taxi market comes to the fore—a USD 20.61 Billion market with a nearly 15% CAGR. As EVs kick in with better technology and improving economics, there’s a consumer to be served and profits to be made. 

So, why does UBER India report a ride-hailing revenue of just INR 678 Crores ($82 Million), pocket change for UBER’s global revenues and as a percentage of India’s cab market revenue pool?

The short answer is that the value in India’s cab market will get tapped using a B2B model and not a B2C model. We see significant rapid value creation potential in India’s EV taxi market to create an extremely valuable and cash-generative mobility platform given the following favourable conditions:

  1. High-quality liquid assets are available at a significant discount to Book Value.

  2. The EV transition point provides a massive tailwind for cash flow generation and high-yielding assets from consumer sales and selling into the carbon credit trading market.

  3. Massive fragmentation in the B2B taxi market in India creates a massive aggregation opportunity, with smaller providers needing more capacity to jump onto the EV bandwagon.

As India joins the world in the transition to a green economy, we see significant value-creation opportunities using a combination of growth, acquisitions and financial engineering to unlock substantial investment returns.

Disclaimer: In the article "India’s EV Cab Market: B2C Is Where Amateurs Go To Die, The Real Power Rests In B2B" above - Any views, comments or communication (above or in the past) should not be construed to be investment advice by Alternative Growth (hereafter referred to as “AltG”) in any form whatsoever. AltG does not make an offer to sell or solicit to buy any securities.


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