Yamaha Forays into EV Asset Management through its Subsidiary MBSI

Moto Business Service India or MBSI, a vehicle rental company backed by Yamaha, has announced its foray into the Eelectric vehicle industry for two and three-wheeler asset management services. To do so, the company has announced its partnership with Fullfily, a Chennai-based EV vehicle company for last mile delivery services.

The two firms began their collaboration with 50 Omega Seiki Rage+ EV three-wheelers and 200 Hero NYX electric two-wheelers. According to the company’s official statement, “Yamaha Expects Yamaha expects to handle 2,000 more vehicles in Tamil Nadu alongside FullFily and other last mile delivery partners, in upcoming few months’’. MBSI has already formed alliances with last-mile delivery firms in Delhi, Hyderabad, and Bengaluru.

MBSI provides vehicle leasing and other support services to technology startups focused on the shared mobility market. MBSI has managed over 1,500 assets in the last six months and expects to invest INR 100 Cr in automobiles this year. By 2028, the company aims to manage one million vehicles.

Before FullFily, MBSI's has made eight investments, this year. Its first venture was with Royal Brothers India's bike rental company, followed by Rentelo, a Bengaluru-based two-wheeler rental platformer. MBSI has also invested in Malbork, a Bengaluru-based all-electric car servicing company, and Rapido, a ride-hailing platform for two and three-wheelers. Some other investments of the company include Mother POD, a Bengaluru-based all-electric four-wheeler taxi and employee transportation firm, and Soujanya Travels.

Commenting on the collaboration, Shoji Shiraishi, Managing Director of MBSI, said, “We are extremely excited to officially kick start our operations in the EV sector in Chennai by partnering with FullFily. India is seeing rapid growth in sales of Electric Vehicles (EVs). We will continue to onboard electric vehicles across multiple cities and generate employment avenues. We plan to work with more mobility companies in the future."

Ashok Vishwanathan, Founder and Cheif Executive Officer of FullFilly said that this partnership with MBSI will enable the company to increase footprint across Chennai."Over the next few months, we will rapidly expand our partnership across South India by partnering with more companies. Fullfily also aims to leverage its strategic alliances to improve the access of fleet and infrastructure for tier 2 and 3 markets and we have plans to expand our services across multiple cities in India,” he added.