Sohinder Gill, CEO, Hero Electric
TheNFAPost Podcast
5

Chennai, NFAPost: Hero Electric has announced its partnership with Autovert Technologies for seamless ‘alternative ownership models’ for Hero Electric’s new owners. Under this partnership, Autovert, a fintech startup, will allow Hero Electric customers to opt for subscription-based plans for an ‘all-inclusive price’ at the time of a new purchase.

Starting at Rs 2,999/ month, the all-inclusive subscription plans will allow Hero Electric customers to avail the vehicle itself, along with bundled services such as comprehensive insurance, service & maintenance, loyalty bonuses and attractive upgrade options. These subscription plans are positioned to cater to the increasing demand from customers for alternative ownership options, which offer more flexibility and features than traditional auto finance, the company said.

The guiding idea behind Hero Electric – Autovert partnership is to cater to the ever-changing customer preference for a ‘digital first experience’, which will eventually enable faster adoption of EV’s in India. Autovert would utilize its IOT based technology platform called ‘Autovert Plug’ to manage the vehicle through its lifecycle in the hands of the subscriber.

The Autovert Plug Subscription plan has been launched with a few select dealers in Bengaluru on a pilot basis before a countrywide launch.

Autovert Technologies Co-Founder and Director Sachin Mehta said, “Customers today are looking for alternative ownership options apart from ease of usage. The future of affordable personal mobility is electric driven. Understandably, so is our focus. The new generation of buyers looks for easier and newer ways of engagement – one that is data-driven. We want to offer our services to the buyers of EVs as we see great potential and rise in their demand.”

Hero Electric CEO Sohinder Gill said, “Ease and convenience are one of the most valued aspects of buying any vehicle. Unfortunately, EV sector does not experience much ease and joy when it comes to financing. Through our collaboration with Autovert, we are determined to offer singular experiences of buying and owning Hero Electric vehicles without much fuss. While we are witnessing a growth in the EV sales, it is of utmost important to also offer rich experiences to our customers and make their experience of owning an electric vehicle hassle free.”

He added, “As sales volumes rise, this partnership with Autovert will simplify and facilitate EV sales in India while giving Hero Electric buyers the ease that is priceless. We are glad to have partnered with Autovert to bring the power of IoT backed finance asset monitoring and management and be a pioneer in this ecosystem of re-imagining auto finance.”

The convergence of Hero Electric and Autovert marks the beginning of a new chapter in the realm of electric vehicle buying in India. Through this initiative, both brands will offer a hassle-free experience of purchasing electric vehicles. Hero Electric has aggressive plans aimed at revamping customer experience and this step is an effort in that direction.

Hero Electric has set up a manufacturing unit at Ludhiana, Punjab, with a total installed capacity of 1,00,000 units per annum. Hero Electric currently has over 610 sales and service outlets spread across the country, including top metros, min-metros, and even smaller towns. Hero Electric launched the first Lithium-ion based electric scooter in India and introduced the unique concept of charging stations for anywhere and everywhere usage. With close to 3,00,000 electric two-wheelers in India, the company has been delivering sustainable mobility solutions for the past 12 years. It continues to play a significant role in developing the EV market in the country.

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