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Launching an electric taxi booking business is easy, but dedication to work is required to reach the top of the market. The demand for the electric taxi business is rising because it is affordable and has shown exponential growth in the past few years. As electric vehicles operate in favor of the environment and reduce noise and air pollution, it has become prominent, and major companies like BMW, Honda, Jaguar, and Mercedes are adopting them rapidly.
Looking forward to dipping into the electric taxi booking business? Hyperlocal Cloud can help you build a taxi booking app with cutting-edge technology to boost sales and customer insights in your business.
An electric taxi is an effective option for the environment, drivers, and all ride lovers. Therefore, electric taxis are popular on all streets and in big cities. Now, let's understand some reasons that will solve your ‘why’ to start an electric taxi booking business:
Let’s take a peek into the future of the battery taxi business:
Now you know the electric taxi booking business's future and advantages. It also positively impacts the environment, making it a sustainable choice.
There are multiple benefits of an electric taxi booking business, some of them are:
Electricity, a clean and renewable energy source powers electric taxis. It makes them a more sustainable option than traditional taxis, which run on gasoline or diesel. Due to rise in demand, it can give your business sustainable growth in the market.
The operating costs of electric taxis are lower than those of traditional taxis. It is because electricity is cheaper than gasoline or diesel, and electric taxis require less maintenance.
Electric taxis can be booked through a mobile app, which makes it easy for riders to find a taxi and book a ride. It is especially convenient for riders who are in a hurry or who do not have access to public transportation.
Electric taxis are typically quieter and smoother than traditional taxis. It makes them a more comfortable ride for passengers.
Electric taxis produce zero emissions, meaning they do not contribute to air pollution. It can have a positive impact on the health of riders and pedestrians.
Many governments offer tax breaks and other incentives to electric taxi businesses. It can offset the cost of purchasing and operating electric taxis.
We at Hyperlocal Cloud help you attain a top-notch ride-sharing app which fulfills all the needs to start an electric taxi business.
An electric taxi booking business works the same as a traditional taxi but with the additional benefit of using electricity instead of petrol. Passengers can use a mobile application to book an electric taxi, and the app will automatically connect them to nearby electric taxi drivers. The app provides an estimated fare for the ride, and passengers can track the driver in real time.
Let’s understand step-by-step how an electric taxi booking business works:
The business model of an electric taxi booking app is a two-sided marketplace model, where a company connects the passenger with the driver and takes a cut as a commission.
The revenue model of the electric taxi business is quite similar to that of a traditional one. But with the benefits of using electric vehicles in it. This option can be more sustainable and environmentally friendly for drivers and passengers.
You can charge a commission on every pickup and drop in this model. The charge rate typically varies between 10% and 20% and is the most common model taxi booking apps use.
Here, passengers pay a monthly or annual subscription fee to use the service of your electric taxi. Car sharing companies often use such models to profit by offering exclusive services to their customers. It is a common but very effective business model for not just an electric taxi booking app but for all other applications in the market.
It is like an hourly rental model where a passenger pays an hourly rate to rent an electric taxi. It is a popular model businesses or organizations use that must transport employees or customers daily. The generated revenue in this model is fixed at one amount until any major changes in your business occur.
In this model, a company generates revenue by selling advertising space on its app or website. This model is less common but can be a reliable option for businesses with a wide user base.
Overall, an electric taxi business model is very profitable. You can choose any model mentioned above and generate leads in your business.
There are majorly three types of electric taxis:
Battery Electric vehicles, known as ‘all-electric vehicles or ‘pure electric vehicles’, run entirely on battery power. They don’t have any petrol or diesel engines. They are run by more than one motor, which can be recharged by separate batteries. Most of today’s BEVs have lithium batteries because they lift more than one passenger at a time.
BMW i3, BMW i4, Hyundai Ioniq Electric, Hyundai Kona Electric, Mercedes EQS, Tesla Model X, and Volvo C40 Recharge.
A Plug-In Hybrid Electric Vehicle uses batteries to power an electric motor, associated with an internal combustion engine that can recharge the battery to give it a longer drive life. A PHEV generally uses electricity stored in the battery to travel about 10-50 miles. Once depleted, the battery switches to the internal combustion engine’s fuel tank to travel another 100 miles. All types of PHEV batteries can be charged on level 1 or level 2 types of EV chargers.
Audi A3 E-Tron, Bentley Bentagya, BMW 225xe, Fiat 500e, Ferrari SF90, Toyota RAV4, and Lincoln Aviator Grant Touring.
Hybrid Electric Vehicles, also known as self-charging hybrids, use an internal combustion engine and electric motors, which use lithium batteries. The main difference between PHEV and HEV is that an EV charger can’t charge the battery of a HEV. The installed battery is charged using regenerative braking.
Audi Q7 SUV, Audi A-8 Le-Tron, Silverado 1500, Toyota Prius, Ford Focus MHEV, Lexus CT200h, and Toyota Yaris Hybrid.
Now let’s take a glance through some successful businesses in electric taxi booking with an app:
Uber Green works like Uber, but with the Uber Green app, a passenger can avail of electric taxis instead of diesel & petrol vehicles. It is working on a vision that by 2030, 100% of citizens of the USA start using Uber Green.
RideAustin provides an electric taxi booking service in Austin, Texas. It comes with every single feature that a taxi app should have. A passenger can avail of a ride at the price of $1 and a minimum fare of $4 with this app.
Strip offers its passengers the top-rated electric taxi booking service all over the USA. Strip allows their passengers to book a taxi in advance or on-demand. The app also offers a fare estimation feature, that allows passengers to calculate their fare before booking a ride.
As the name suggests, Easy provides easy electric taxi booking in the USA. The app has 20 million users from 30 different countries worldwide. Easy gives a fantastic user experience from a user's point of view.
Features in your electric taxi business app drive sales and customer retention and can help generate revenues. Let’s discuss exclusive features for businesses, users, and admin that can make your business rise above the market.
Let’s know some features that can be favorable for passengers:
Login & Registration
Passengers should easily log in/register with all their memos and required information. You can integrate social media APIs for quick login/registration support.
Choose Car Type
A passenger must be able to choose the fleet offered in the application. It could be a bike, car, and rickshaw for the ride.
Feedback & Review
This feature will also help improve your business. User-given feedback is analyzed to improve business operations, take action, and make changes.
With the help of GPS, a rider will be aware of their desired fleet's status and arrival time. It will help them manage their time accordingly.
It will let a user be updated about the cab’s arrivals, cashback, and any other updates. It also helps gain customer insights like behavior, data, and feedback.
Our app features make it easy for drivers to use:
With this feature, a driver can edit their profile to include information about their vehicle type, car number, registration, and photos.
It lets a driver exchange currency in return for their services. They can choose which currency they want to be paid besides the company’s.
Drivers will have full control over what rides they want to accept or cancel to manage their working hours accordingly.
With this feature, drivers can also contact their passengers in case of any query, like informing them about the ride, locating them, and other ride-related questions.
SMS or e-mail alerts will notify a driver of the upcoming ride, fare, and other activities from the user's side. It will also update them if there’s any change in fare and climate.
We offer beneficial features for admins:
An admin panel needs to be equipped with a dynamic UI to monitor business operations and how many cabs are active at the spot.
As a business owner, Hyperlocal Cloud gives you a rate card feature where you can decide your ride fares. All you have to do is input the amount, which will apply to all the registered vehicles in your app.
With this feature, you can review, reply to, and take action on the complaint given by the customer. It will increase customer loyalty and boost sales.
An admin can determine the boundary of the operations of their registered vehicles. They can decide the parameters of the ride-sharing business.
This feature includes the new registration of drivers after complete verification of their identity, licenses, and vehicle registration. You can add and remove drivers in your application through a driver management panel.
Avail a free first consultation with Hyperlocal Cloud’s team that can help you achieve an app built with a cutting-edge tech stack to help upscale your business.
After understanding the future scope and the required knowledge of the ride-sharing business, it’s time to learn how to start an electric taxi booking business.
Conducting proper market research is important. In this process, you will find out if any market gap lies and how you can fill it. Find out some competitors' weaknesses and analyze their performance in the electric taxi booking business.
The prototype will determine the look of your application. This process includes color, brand name and logo design for your application. You can also use an Uber clone app to get all the features and functionalities like Uber with your brand name.
The development phase of your application is divided into two parts: front-end development and back-end development. The front-end development part for your application includes API integration, implementation of UI, creation of animations, user login & sign-up interfaces, etc.
At the same time, the backend development process includes servers, security, data transmission, and communication between the front end and API. Both factors are quite important for complete development.
The testing phase of your application ensures that all the functionalities and features are working properly in your application. It also ensures quality, live tracking or GPS control, authentication between user and driver, and another verification part. The testing phase of an application is required to confirm that the development process of the application has been successfully executed.
After completing the development and testing process, your application is ready to be live for usage. At Hyperlocal Cloud, we offer free deployment on Google Play Store and Apple Store for your application.
The electric taxi booking business benefits those looking forward to investing in this business niche. With the right company and support, you can beat the competition and put your business ahead of your opponents. Whether you start traditional cab sharing or an electric taxi ride-hailing business on this planet, it will always be beneficial as it provides comfortable services to customers.