Raft Cosmic EV: Powering the Future of Sustainable Mobility for India’s Gig Economy
Kolkata – Raft Motors which is majorly owned by Cosmic Birla Group is emerging as a promising EV two wheeler brand. Apart from retail sales, they are making major inroads in the leasing segment. Cosmic EV and Cosmet Fleet are two channel partners of Raft Motors. that are engaged in the leasing business of electric vehicles purchased through Raft Motors to major institutions like Zomato, Swiggy, Amazon, Flipkart, Big Basket etc.
As it is well known, the world is moving towards renewable energy and these prestigious institutions have made it their goal to go carbon neutral by 2030. Sighting this opportunity, the two fleets have tied up with RAFT MOTORS LTD to allow millions of unemployed people to engage in the business of delivering food and other utilities at an affordable rental payable on a weekly basis.
There are currently about 8 million gig workers in the country and the number is expected to grow to an astronomical 24 million by 2030.
According to a white paper by the Forum for Progressive Gig Workers, the gig economy in India is projected to grow at a compounded annual growth rate (CAGR) of 17%, reaching USD 455 billion by 2024, driving significant economic growth and employment opportunities.
At Cosmic EV and Cosmet Fleet, we intend to provide and enable every gig worker the opportunity to earn a living and take care of their families.
Mr. Aditya Vikram Birla shared : “At Raft Cosmic EV, we are not just building electric vehicles; we are creating opportunities, enabling livelihoods, and driving India’s transition to a greener future.”
Raft Motors was a Mumbai-based company in which Cosmic Birla Group acquired a majority stake. The acquisition of this company and the subsequent turnaround came with its set of challenges as Raft Motors was debt ridden and was facing cash flow issues. After the acquisition, the new management was able to improve the credit rating of the company by clearing off the liabilities and turning it around into a robust entity now poised to achieve unprecedented market share.
