E-Commerce Platform Solv Announces Shift To Electric Vehicles For Delivery Services

Solv, the digital marketplace for Micro, Small and Medium Enterprises (MSMEs), has announced that it will shift to electric vehicles (EV) for its delivery services under its green logistics initiative 'Solv EVolve'. The e-commerce platform, which functions in the B2B (business to business) space, expects 25 per cent of all its goods deliveries to MSMEs to be fulfilled within a year using electric vehicles. The company also aims to shift 100 per cent of its delivery fleet to electric vehicles within the next 3 to 5 years. Solv's green logistics initiative 'EVolve' has been piloted in New Delhi and will be launched in phases across multiple cities in India.

Commenting on the launch of Solv EVolve, Amit Bansal, CEO, Solv said "Solv is extremely proud to launch Solv EVolve - our environment-friendly initiative to reduce the carbon footprint generated in retail supply chains, especially in the unorganised MSME sector in India. We have an ambitious target to transition 100 per cent of our goods deliveries to MSMEs via electric vehicles within a couple of years. With an estimated US$ 800 billion worth of goods moved by the MSME sector in India's retail sector every year, we hope this move will spur accelerated adoption of more green initiatives in the MSME B2B sector."

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Amit Bansal, CEO, Solv says its environment-friendly initiative will help reduce the carbon footprint generated in retail supply chains, especially in the unorganised MSME sector in India

Solv says the move to eco-friendly transportation will save expensive fuel costs, keep prices in check for customers, and will help reduce carbon footprint, thereby allowing the sector to grow responsibly. The company says that over 50,000 tonnes of goods will be moved by Solv via EVs within a year of launch.

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The B2B e-commerce startup doubled the number of verified MSMEs on its platform from 100,000 to more than 200,000+ in just a quarter, while its Gross Merchandise Value or GMV run rate doubled from Rs. 1200 crore to about Rs. 2000 crore during the same period. Solv currently serves MSMEs in volume-driven consumer segments in India like grocery and FMCG, apparel, HoReCa (Hotel, Restaurant and Cafe), consumer electronics, footwear & accessories and home furnishing, across 200+ cities in India.