CHENNAI: Refex Green Mobility, a subsidiary of Refex Industries, a listed entity, announced it will acquire about 10,000 electric cars in three years for employee transportation service across metro cities in the country.
Currently, it operates nearly 500 electric vehicles at present and targets to strengthen its EV fleet size to 2,000 in a year and further ramp up to 10,000 cars in three years.
Refex started operations in March this year in Bengaluru and expanded to Chennai on Monday. It eyes expansion in Pune, Hyderabad and Delhi. It largely serves corporate clients and bets on environmental social and governance (ESG) regulations to capture the employee transport business with an electric fleet.
Anil Jain, managing director of Refex Group, said scope-3 compliance in ESG makes it necessary for companies and the shift to EVs is driving the demand. As existing contracts end, a lot of new contracts are made for EVs, he added. The company said EV fleet operations typically cost 10% TO 15% more than petrol cars, but still few companies prefer green options.