@Liger This news cliping should answer part of your question.
EC Wheels India Private Limited (A subsidiary of Steelman Telecom Limited) launched its All-Electric App Cab service under the brand name Snap-E in line with an increasing need for environment friendly executive class cab services.
EC Wheel India Pvt ltd is a subsidiary of Steelman Telecom Limited, which recently had a successful BSE SME IPO and got listed on October 10th, 2022. The issue was oversubscribed and saw overwhelming response from institutional, HNI and retail investors with the issue being subscribed 22 times. Steelman Telecom focuses on providing 5G roll out solutions to all Telecom Service Providers in India.
Over the next two years, Snap-E plans to operate a fleet of 5000 Electric Vehicles providing cab services across the states of Eastern India. Simultaneously, Snap-E will also set up state-of-the-art EV Charging infrastructure across the region.
At the initial pilot phase of the project, Snap-E plans to operate with a fleet of 700 Electric Cabs and set up 150 DC and 700 AC Charging Stations in and around Kolkata. The next phase will be an addition of 500 vehicles with plans to further add upto 4000 vehicles in subsequent phases, backed up by proportionate charging infrastructure. The Kolkata rollout will be followed by a phased launch across the other major cities of Eastern India.
Mr Mayank Bindal, Founder, also emphasized on the measures that will be implemented to ensure that the common service issues of other cab aggregators are not experienced while availing Snap-E. Speaking on the plans of Snap-E, Mr. Bindal said, "Our focus continues to be on providing green mobility solutions to partner in the governments aim towards neutral emissions. From a consumer benefit perspective we are looking to provide executive class electric vehicles, with trained and professional drivers thereby enhancing the consumer experience manifold We also acknowledge that the concern for environment should not outweigh the impact on customers' ability to avail the benefits of this service. Therefore, with Zero Surge pricing model, and flat rates between popular pick-up and drop-off locations, Snap-E will help save a minimum of 15-20% on the commuters' fare".
As per recent survey reports, low accessibility and availability to charging infrastructure has been a major deterrent for car buyers to opt for electric vehicles. To resolve this issue, and encourage the usage of more electric vehicles, even by private car owners, Snap-E will be opening their charging stations, at a nominal fee, for public charging of electric vehicles thereby helping meet our contribution and mission for a greener world.
At times when the world is looking for sustainable ways of controlling pollution, a substantial part of which is contributed to ill-maintained cars, Snap-E is expected to lead the much-awaited transformation.
To ensure uninterrupted delivery of electric vehicles, EC Wheels India Private Ltd. has already executed an MOU with M/s Tata Motors Limited, through which Tata Motors have already supplied 100 Electric Cabs till September 2022 and would be supplying at least 100 Electric Cabs every month thereafter.
The total investment in the project is slated to be more than Rs 2000 Crore with assured employment for at least 15000 persons.
Formal Commission and Inauguration of Project
The project will be formally commissioned at 4:30 PM on the 14th October 2022, at the Tal Kutir Convention Centre, Eco Tourism Park, Plot No: 11E/65, Action Area II, New Town, Kolkata 700156, West Bengal, when Janab Firhad Hakim, Hon'ble Mayor, Kolkata Municipal Corporation and the Hon'ble Minister-in-Charge, Urban Development & Municipal Affairs Department, Government of West Bengal will flag off the first lot of 100 Snap-E Electric Cabs for commercial service in and around Kolkata. Shri Snehasis Chakraborty, Hon'ble Minister-in-Charge, Transport Department, Government of West Bengal will preside over the programme. Smt. Krishna Chakraborty, Hon'ble Mayor, Bidhannagar Municipal Corporation will also grace the occasion to support this endeavour to provide a cleaner and greener environment.
Shares of Steelman Telecom Limited was last trading in BSE at Rs. 185.95 as compared to the previous close of Rs. 177.10. The total number of shares traded during the day was 211200 in over 137 trades.
The stock hit an intraday high of Rs. 185.95 and intraday low of 176.20. The net turnover during the day was Rs. 38748000.00.
Zerodha (Trading Account)
RHP
IPO Mentor (600+ Posts, 500+ Likes)
Top Contributor (300+ Posts, 500+ Likes)
IPO Guru (4400+ Posts, 5100+ Likes)
