Dubai seems to be fast becoming an addiction for serial entrepreneurs, with Ukraine-origin Ivan Kroshny, said to be amongst the top investors who set up maximum number of startup ventures around the world – launching 30 companies in 19 countries in less than 9 years – is raring to go with his 5th startup venture in Dubai – this time one for eco vehicles for last-mile delivery.
Interestingly, Kroshny’s latest venture in Dubai is also greatly influenced by COP28, which brought home the urgency of sustainability measures on war footing to tackle global warming – threatening to turn into ‘global boiling’ in the not-so-distant future.
The global serial entrepreneur’s latest venture in Dubai, christened as Eco Way – intends to manufacture 30,000 electric bikes a year, promising to replace 30,000 gasoline-powered motorcycles that emit CO2, leading to reduction of an estimated 117,000 tonnes in Dubai’s annual emissions of the toxic gas.
Data shows that only 0.1 tonnes of CO2 are released annually on average by electric scooters.
Electric bikes for last-mile delivery
The company has created special electric bike models for delivery couriers as part of the Eco Way initiative, with an emphasis on enhanced maneuverability and a 120 km range on a single charge.
Interestingly, the Eco Way bike has two batteries, enabling battery switching in no time at the closest charging station, boosting efficiency and sales for e-commerce companies.
“E-bikes offer an economical and environmentally responsible alternative that fits with the [UAE] government’s push for electric cars to lower carbon emissions and promote sustainability in the face of growing e-commerce,” Kroshny told Arabian Business in an exclusive interview.
“The industry is rapidly growing, both in terms of delivery services and electric transportation as a whole. Both spheres are developing very quickly, and we see significant expansion opportunities, starting with the local market and then moving on to the rest of the Arab world,” he said.
As of now, there are 45 Eco Way bikes already on Dubai roads, each with a 12-battery capacity, with 13 charging stations scattered around the city.
Eco Way to push an ambitious concept
Kroshny preferred to describe Eco Way as “an ambitious concept”, aiming to replace gasoline-powered vehicles with electric bikes.
“It is the only business in the area offering a complete suite of services for an electric fleet at the moment,” he claimed.
The venture also promises consistent electricity pricing.
The serial entrepreneur said his new company’s objective of replacing gasoline-powered bikes with electric bikes also corresponds with the worldwide aspirations of industrialised nations.
“In Belgium and the Netherlands, there is already considerable discussion about replacing all gasoline-powered bikes with electric ones,” he pointed out.
“Electric bikes are cheaper to maintain, and electricity is more cost-effective than gasoline.
“Besides, the cost of gasoline is influenced by numerous factors, including carrier strikes, while electricity is more stable in cost and can be obtained through renewable energy sources,” Kroshny explained, asserting his confidence in his new venture becoming a huge success in the UAE and beyond.
The timing of the launch of Eco Way is also significant as it comes amidst the increasing need for last-mile delivery services fuelling the growth of the electric delivery bike market in the UAE.
The UAE government wants all enterprises to assist in its objective of having zero emissions by 2050.
Diverse ventures in Dubai’s business hub
Among the businesses set up by Kroshny, along with his partners, in Dubai are a brokerage company, a consultation firm on relocation and tax optimisation in Dubai, and an F&B business.
He and his partners also opened the popular Roasters Specialty Coffee House coffee chain, which is now visited by tens of thousands every month.
Apparently, the huge success of his coffee house chain seemed to have inspired him to turn his attention to the problems of ecology and sustainability, leading to the idea of Eco Way.
Those who know Kroshny say the Ukrainian businessman “has a nose for gaps in any market”, as he sets foot into the up-and-coming industry of eco vehicles post-success of the UAE hosting COP28 with much international praise.
Meanwhile, Kroshny is already learnt to be thinking of his next venture – the 32nd one – and the apt market for it!
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