The institutional side of a business is always attractive to companies and Mahindra & Mahindra is trying to capitalise on the potential for car rental services to corporate customers. Mahindra Logistics plans to launch a brand Alyte that offers the services of a cab aggregator for corporates, as per an Economic Times report. M&M also plans to club all its mobility services including the electric vehicles under one roof.
An announcement from Mahindra Logistics says they are launching Alyte nationwide from this quarter. Alyte, Meru Cabs, Glyd and First Choice -- will be housed under the new vertical called mobility services. Alyte comes under Mahindra Logistics, Meru Cabs is a hail-a-cab operator in which Mahindra group owns 55%, Glyd is the conglomerate's app-based e-vehicle cab service while First Choice is the used car business owned by M&M.
There will be a dedicated app for Alyte. When it comes to the employees of the companies Mahindra Logistics ties up with, they can register with their employee ID etc. and can utilise the cabs for all their official trips. Going ahead, the need for cabs to drop them to airports and picking up will also be included.
However, M&M is not the first to come up with these services. Ola has its Ola Corporate vertical, boasting of 10,000 companies in the fold. Uber too has its Uber for Business. In terms of the volume of business generated, it may not account for much in comparison to the core cab aggregation services offered to the public at large.
Mahindra Logistics plans to assist their cab drivers in owning vehicles through deals and financing.
The focus on electric mobility will be intensified. The number of electric vehicles in Alyte which is currently at 100, is sought to be increased to 500 by the end of this financial year ending March 2021.
M&M is not alone in this. Uber, Ola, Bajaj, Hero and Tata Motors are all sharpening their focus on this segment and it should see some intense activity in the coming year.