SUMMARY
Flyy is charging INR 1 per minute for its electric bike rental services
Passengers can rent their dockless electric bikes from Alandur metro station
The fleet size of bike-rental apps in India is now over 15K vehicles
With a view to make bike rentals hassle-free and enable quicker daily intra-city commute, Chennai-based dockless bike rental startup Flyy, on Saturday (December 7), launched a fleet of keyless, smart and eco-friendly bikes in partnership with Chennai Metro Rail Ltd (CMRL).
According to a report by The Hindu, Flyy will charge INR 1 per minute to users for renting their electric bikes. As of now, users can rent these electric bikes from Alandur metro station by using Flyy app, which can be downloaded from the Google Play store.
According to Flyy’s website, anyone with a valid driving license can rent the electric bikes. Moreover, after the end of their ride, passengers can drop these electric bikes anywhere within the serviceable areas which are marked as green and blue zones over the mobile app.
Currently, the service is available from 7 AM to 9 PM at Alandur metro station. While there are currently on six bikes, CMRL has said that the number will be increased to 15 bikes as the demand increases.
Indian Streets Paving Ways For Rental Bikes
The concept of riding bikes to get around the city — for quicker, hassle-free commutes — has picked up in India in the last few years. And in the sharing economy, it is but natural to get everything on hire.
According to a study by German EV manufacturer Unu, the fleet size of bike-rental apps in India is now over 15K vehicles, which is higher than the most developed economies in the US and other Western countries.
While Flyy is a new entrant in the space, other companies in the bike and scooter rental segment include Bounce, Yulu, Vogo, Tazzo Bikes and ONN Bikes, among several others.
Recently, Bounce was in talks for raising $150 Mn Series D from B Capital and Accel Partners, doubling the company’s valuation to $500 Mn.
In November 2019, Yulu raised $8Mn from Bajaj Auto Limited (BAL). Yulu plans to expand its fleet of micro-mobility electric two-wheelers and enter new cities in India.
