Ather Energy has just announced a Battery-as-a-Service (BaaS) model for its two-wheelers. Ather is the second two-wheeler major after Hero MotoCorp who recently launched the Vida VX2 range with BaaS
- Prices now start at Rs 75,999 for the Rizta when purchased with BaaS
- 450 Series priced from Rs 84,41 with BaaS
BaaS results in big price drop
Ather has teamed up with multiple financial institutions for this service
With BaaS, Ather has significantly lowered the purchase price of its scooters. Customers can now purchase the Ather Rizta starting at Rs 75,999 and the 450 Series starting at Rs 84,341 (both ex-showroom Lucknow). Under this scheme, instead of purchasing the scooter outright, customers will get to pay a flexible monthly fee for the battery. The company has teamed up with multiple financial partners to offer this service, including banks and other non-banking financial corporations.
Under the BaaS plan, customers are charged based on their usage and Ather says that the cost of the battery is paid off over a period of 3 to 4 years, depending on the customer’s preference. “This model features a usage-based payment system, with a cost of Rs 1 per kilometer for a 48-month package that includes a minimum monthly usage of 1,000 kilometers,” the company said.
Ather Assured buyback program extended
The company will offer up 60 percent of the scooters value after three years
Ather is also expanding its Assured Buyback program, which was successfully piloted with a small group of customers in February.
The company states that this programme offers up to 60 percent of the scooter’s value at the end of three years and up to 50 percent after four years. “The value will be decided based on kilometers travelled, providing customers with clear visibility on their investment’s future worth,” the company said.
“As the EV segment continues to grow in the country, we see customers with different needs and challenges entering the segment. To unlock the segment’s true potential and accelerate growth, we’ve rolled out a slew of initiatives to cater to the different needs of our potential customers,” Ather Energy’s Chief Business Officer Ravneet Phokela said.
“With BaaS, ECW and Assured Buyback, we aim to address major barriers that exist for customers when purchasing a new EV scooter. As one of the leading players, we stay committed to making it easier for families to experience the benefits of EVs.”
These new business initiatives come as Ather Energy gears up to launch a new EL platform and showcase concept vehicles at its Ather Community day on 30th August. The company will also be launching next-generation fast chargers and an upgraded version of its software stack, Ather Stack 7.0 at this event.
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