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Jul, 02 2020

Ather Energy joins hands with CredR for a 2W Exchange Program

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.

By News Editor
Ather Energy joins hands with CredR for a 2W Exchange Program

Irrespective of which scooter, motorcycle, or superbike you own, you can now switch to electric by exchanging it for a brand new Ather scooter. Ather Energy, known to introduce innovative ownership models, brings another purchase option in association with CredR, India’s most trusted used two-wheeler brand. As part of this association, CredR will offer instant price quotes for old petrol two-wheelers, which will be used to reduce the upfront cost of upgrading to Ather’s scooters.

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. Customers will need to bring in their old petrol 2-wheelers for 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. Currently, the program is applicable only for Bengaluru and Chennai and will be available across India as partner experience centres open in the coming months.

Sasidhar Nandigam, Chief Strategy Officer, CredR, said, “We’ve transacted over 3 lakh 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.”

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.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, stated, “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.”

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