BP Ventures, the investment arm of British energy giant BP, has announced a $9 million investment in Zingbus, an electric intercity bus platform based in Gurugram, India. This funding is part of Zingbus’s Series A round and is aimed at expanding its operations, strengthening its team, and accelerating the transition of traditional diesel buses to electric vehicles (EVs).
Zingbus: A Leader in Intercity Bus Services
Founded in 2019, Zingbus offers small and medium-sized bus operators a state-of-the-art platform for pricing, fleet management, route optimization, and ticketing. The company has built a strong network, partnering with operators across North, West, and South India. Its fleet of over 350 buses serves more than 500 cities across 18 states, making it one of the most reliable bus services in India.
Zingbus has already served over three million passengers, focusing on safety and reliability. With its innovative platform, the company is helping operators shift from internal combustion engine (ICE) buses to electric ones, playing a key role in India’s EV revolution.
Supporting India’s EV Goals
The Indian government has set an ambitious target of achieving a 100% electric bus fleet by 2030. Zingbus is well-positioned to contribute to this goal. According to Prashant Kumar, Co-founder and CEO of Zingbus, electric buses are cheaper to operate than diesel ones, offering a cost-effective and eco-friendly alternative for intercity travel.
“This is a tremendous opportunity to make intercity travel safer, more efficient, and environmentally friendly,” Kumar said.
Collaboration with Jio-bp Pulse
The investment also marks a significant partnership with Jio-bp Pulse, a joint venture between Reliance and BP. This collaboration will provide Zingbus access to Jio-bp Pulse’s extensive EV charging network, which includes over 5,000 fast-charging points in cities and along highways. The partnership ensures seamless operations for Zingbus’s EV fleet, supporting its transition to electric buses.
Gareth Burns, Vice President of BP Ventures, highlighted the importance of the collaboration. “Zingbus’s tech-enabled platform benefits both operators and customers, offering reliable and affordable travel solutions. Our investment, combined with Jio-bp Pulse’s infrastructure, is a step toward a greener future for intercity travel,” he said.
Market Position and Growth
Zingbus has emerged as a market leader in the intercity bus sector. In 2021, the company was valued at $10.4 million and held a 53% market share, outperforming competitors like Fresh Bus (26%) and NueGo (20%), according to data from Tracxn.
The investment from BP Ventures comes at a time when government initiatives like PM E-DRIVE and increasing consumer interest in sustainable transportation are driving the adoption of EVs in India.
Expanding Operations
The $9 million funding will allow Zingbus to expand its operations and introduce new technologies to enhance its services. The company plans to use the funds to:
- Increase the number of electric buses in its fleet.
- Strengthen its team to support its growing operations.
- Enhance its platform to offer better tools for bus operators.
These efforts will not only improve the efficiency of Zingbus’s services but also make intercity travel more accessible and eco-friendly for passengers.
Greener Future for Intercity Travel
The partnership between BP Ventures, Zingbus, and Jio-bp Pulse represents a significant step toward sustainable intercity travel in India. With its innovative platform and strong market presence, Zingbus is set to play a crucial role in transforming the country’s transportation sector.
As India moves closer to its EV goals, Zingbus’s efforts to transition to electric buses will contribute to reducing carbon emissions and promoting cleaner, greener travel options for millions of people.
Zingbus’s collaboration with BP Ventures and Jio-bp Pulse marks a pivotal moment for India’s intercity travel sector. By focusing on electric buses, the company is not only advancing its own operations but also supporting the country’s broader push toward sustainability. With continued innovation and strong partnerships, Zingbus is poised to lead the way in making intercity travel in India safer, more efficient, and environmentally friendly.
