Ampere Vehicles, the electric mobility arm of Greaves Cotton, has partnered Autovert Technologies, a fintech company, to launch an EV battery subscription plan through an IoT-backed platform. The partners will introduce the subscription plan in Bangalore with selected dealers, which will be later expanded across the country.
The two companies claim gthe battery subscription plan is the first of its kind in India, one which substantially reduces the cost of vehicle acquisition and provides an alternative choice to the buyers who get more than usual financing option. With this customised subscription plan, a customer can buy a high-speed e-scooter like the Ampere Magnus Pro by paying Rs 49,990 (ex-showroom price Rs 73,990), whilst opting for a monthly battery subscription of Rs 1,990.
The subscription plan helps reduce customer anxiety about the lifecycle management of the battery but also provides benefits including extended warranty of 5 years along with full vehicle insurance, full vehicle service and maintenance for 24 months, attractive upgrade options, discounts on replacement battery and much more.
The subscription plans is also available for the Magnus Pro and Zeal models, starting at Rs 2,777 a month.
Commenting on the partnership, P Sanjeev, COO, Ampere Vehicles said, “We are happy to partner with Autovert Technologies to introduce this unique battery subscription plan. With this association clubbed with special Ampere freedom offers, we are aiming to make Ampere Vehicles more affordable and accessible for the consumer.”
Vinay Sharma, co-founder and CTO, Autovert Technologies said: “The battery subscription is possible, given the modular nature of the EV, which lends itself to decoupling the battery from the vehicle and specific services offered around its lifecycle. The EV ecosystem demands an alternative ownership model in order to drive faster adoption amongst an emerging customer base.”