Bounce’s Rs 500 crore electric vehicles punt

The Bengaluru-based ridesharing company is rewriting a new playbook with electric vehicles. It could work or fail spectacularly.

That Bounce hasn’t already gone out of business is God’s eighth-day miracle.

Before the pandemic struck, the company’s yellow and red bikes were everywhere in Bengaluru. People took a fancy to the quirky scooters to travel short distances and discarded them once they were done. For a generation raised on use and discard, Bounce fit like a hand in a glove. Two years into business, Bounce was clocking 100,000 trips in the city every day. A fleet of 18,000-20,000 scooters being used by at least six people everyday.

Enthused by their immediate success, Bounce’s co-founders pitched the company with a …

Author

Nikhil Varma

Nikhil used to a writer at The Morning Context. He is a graduate of the Asian College of Journalism, and has worked with several publications including the Deccan Herald, The Hindu and The Indian Express. He has reported on a wide range of topics, from technology to automotives to books.

nikhil@mailtmc.com