City-based Refex Industries, as part of its expansion programme, plans to commence third party employee transportation services using electric vehicles in Bengaluru, Mangaluru and Pune.
On Thursday, the company floated a subsidiary called Refex Green Mobility Ltd., with an initial investment of ₹10 lakh.
“For years, we have been providing logistics services for ash and coal handling. Now, we are extending it to employee transportation. We are providing help to those firms, which are switching from ICE vehicles to EVs,” said Anil Jain, MD.
Refex plans to deploy its own vehicle and maintain it using its own technology. It has tied up with four Fortune 500 firms in Bengaluru to commence the service in 15 days.
To start with, Refex will deploy 50 Tata Motors EV Tiago in March and 1,200 vehicles in 12 months. Bengaluru will get 80% coverage and rest will be split between Mangaluru and Pune.
“The total cost is about ₹150 crore and it will be met through internal accruals,” he said.
