Swiggy introduces XL EV fleet for bulk food deliveries
What's the story
Swiggy, a leading food delivery platform in India, has introduced a new service called the Swiggy XL EV fleet. This initiative is specifically designed to handle bulk orders using electric vehicles. The service was officially launched in Gurugram today, coinciding with the State Assembly elections in Haryana. Prior to its launch, the fleet underwent several weeks of testing.
Pilot performance
Successful pilot run during Haryana elections
During its pilot phase, the Swiggy XL EV fleet successfully delivered 3,500 meals to electoral officials across over 580 polling booths, in Gurugram and Badshahpur constituencies. This service was offered free of charge to the district administration. Sidharth Bhakoo, National Business Head of Swiggy Food Market place, highlighted, "The food delivery services are helping in the overall growth of the F&B sector in India."
Festive advantage
Swiggy XL: A boon for festive season gatherings
Bhakoo emphasized the timing of the launch, stating, "The festival season is perhaps the best time to launch this service." He further added that Swiggy XL aims to ensure uninterrupted celebrations and timely delivery of large orders. The company plans to extend this service to more cities in the coming weeks. The new fleet features temperature-controlled compartments and operates on electric power.
Business expansion
Swiggy's IPO and introduction of 'Bolt' service
On September 26, Swiggy submitted revised draft documents to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO comprises a new issuance of equity shares worth ₹3,750 crore, and the sale of 18.52 crore existing shareholders' equity stocks through an offer-for-sale (OFS). Alongside the XL fleet, Swiggy also introduced 'Bolt,' a 10-minute delivery service for meals and beverages in select cities.