It was interesting to read that the founders had earlier founded a startup that was an e-rickshaw OEM. This gives them an advantage in terms of knowing how to build the products they are using for their service offering.
As the news report says, it will be interesting to watch how startups like Oye! Rickshaw strategize in an EV market segment with low entry barriers. One of it could be owing a large part of the ecosystem (OEM, service, charging/swapping stations...) and another could be extensive use of tech and software to build a loyal customer base (though now sure whether Ola or Uber have been able to do it using tech so far)