Drivezy to liquidate its fleet as demand falls amid virus outbreak

Vehicle rental platform Drivezy plans to liquidate around 30% of its 15,000 two-wheelers and part of its four-wheeler fleet due to mounting debt and falling demand.

The company has launched a pre-owned vehicles buying and selling platform to dispose off the used vehicles. It also plans to gradually add a fleet of electric vehicles (EVs) by setting up a joint venture with an EV maker, Ankur Sengupta, head of business operations, Drivezy said.

“Demand from consumer side has been the main source of revenue for the mobility and vehicle rental sector, but covid has changed that. Drivezy is now repositioning its business strategy to offer a full-stack mobility platform by offering both short-to- long-term vehicle rentals, as well as a new platform to buy or rent brand-new vehicles directly from manufacturers," Sengupta added.

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