Chennai-based Refex Green Mobility is planning to invest ₹240 crore by March 2024 for purchase of 2,000 electric cars for providing third party employee transportation services in Bengaluru, Chennai, Hyderabad and Pune, MD Anil Jain said.
“Right now, we are providing transportation services to eight corporate clients in Bengaluru. On Tuesday, we will start our service in Chennai with 41 e-cars,” Mr. Jain said at a press meet.
The company, which began operations in Bengaluru in March 2023, has 497 e-cars and this would be scaled up to 2,000 by FY24, he said.
“We need money for purchasing about 2,000 e-cars [Tata Motors EV Tiago and Citroen] and putting up charging stations,” Mr. Jain said.
“Very soon, we will be entering Hyderabad and Pune and New Delhi during FY25. We hope to procure 10,000 cars in three years at a cost of ₹1,350 crore,” he said.
On Monday, Refex Group announced the commencement of its new business venture eVeelz in Chennai. The vehicle service was flagged off by Deputy Mayor Mahesh Kumar. The company has also moved into its own office premises in T. Nagar.