Ather Energy partners CredR for two-wheeler exchange program

by Autocar Pro News Desk , 01 Jul 2020

Bangalore-based electric two-wheeler maker Ather Energy has partnered CredR, an online two-wheeler marketplace, that will allow customers to instantly get price quotes for their old petrol two-wheelers, which will be used to reduce the upfront cost of upgrading to Ather’s scooters. The exchange program is being offered on all scooter, motorcycle or superbikes.

Ather says this partnership allows owners to quickly and easily trade in their old two-wheelers for an ever improving electric scooter and receive their new vehicle within days. The custoemrs will need to bring in their old petrol two-wheelers for a physical inspection to Ather Space, where an instant price quote/estimate will be generated through the application powered by CredR. To complete the transaction, CredR will verify the documents and the health of the petrol two-wheeler. The exchange price will then be adjusted against the final cost of the new Ather scooters. At present, the program is applicable only for Bangalore and Chennai and will be available across India as partner experience centres open in the coming months.

Ather is the first two-wheeler OEM to launch a private lease program, with a payment plan starting at Rs 2,589 per month. The company also offers ownership programs under Ather One that takes care of all day-to-day expenses, along with doorstep service and spare parts.

To promote the adoption of EV, Ather has added a slew of financial models and first-in-category lease plans, with no long-term commitment. And with the Ather 450X launched in January 2020, the company has rolled out an innovative battery subscription model. Under this plan, the consumer pays for the scooter, minus the cost of the li-ion battery. The battery is paid for under a monthly subscription model that not only lowers the upfront cost of the scooter, but also provides a lifelong, infinite battery warranty.

Ather also partnered with Bounce, a leading provider of dockless shared mobility player in Bangalore for their Peer-to-Peer (P2P) sharing program. This partnership enables new Ather 450 owners to monetize the idle time of their vehicle by listing it on the Bounce App and earning an additional income.

Ravneet Singh Phokela, chief business officer, Ather Energy “Since our launch in 2018, we've constantly been looking for new and innovative ownership models for our vehicles, and this is another step in that direction. This exchange program makes the entire process more seamless for owners and reduces the stress of personally trying to sell their vehicles. CredR has been doing a great job with second-hand two-wheelers and offering extremely competitive rates, making the whole purchase experience transparent and easy, while reducing the total cost of ownership.”

Sasidhar Nandigam, chief strategy officer, CredR: “We’ve transacted over 300,000 used two-wheelers in the last 5 years and no one understands the used two-wheeler market better than us at this point. With over 20 lakh data points and pricing intelligence, we provide the best value for any two-wheeler seller. After having worked with all leading 2W manufacturers, we’re embracing the new EV manufacturers in the same way. With many consumers now becoming EV inclined, this partnership seemed like a great channel to scale our supply infrastructure.”

Also read: Ather Energy to begin exporting e-scooters this fiscal