Electric Vehicle News
Online marketplace for used two-wheelers CredR and Hero Electric - India's largest electric two-wheeler maker, announced a scheme where owners of petrol two wheelers can exchange their petrol-based two-wheeler and upgrade to a Hero Electric scooter. CredR will offer instant quotes for used petrol scooters and will reduce the upfront cost of Hero Electric scooters.
This scheme is available in Delhi-NCR, Hyderabad, Jaipur, Bangalore and Pune, and will soon be expanded to other cities across India.
Sasidhar Nandigam from CredR said
"Currently, electric mobility contributes to less than 1 per cent of the two-wheelers market that can only increase from here. We are tremendously excited to partner with an industry giant like Hero Electric in bringing about this shift in the market"
Hero Electric CEO Sohinder Gill said
"As one of the leading EV brands in India, we are looking to enhance the accessibility and affordability for e2W buyers.
Mr Gill said after lockdown he has seen a lot of demand for electric scooters as they are an affordable and reliable solution.
Hero electric is India's largest electric scooter manufacturer and they have started to come up with interesting purchasing options like subscription model, finance schemes and now an exchange scheme. This is a good idea as we know many people who have an old petrol motorcycle or a scooter and they want to get rid of it. They can opt for a new Hero Electric model.
Very good idea. Although Hero Electric does not market these interesting schemes well. There is no such information on their website not is there any info on the CredR website as of November 2020. We spoke to Hero Electric dealer who is doing very well in Pune and he said
"Customer to bring his vehicle, valuator will do valuation and Hero will give Rs 5000 additional value to old vehicle"
All in all this is a good deal for customers, dealers and Hero Electric.
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