Hero Electric, India's leading electric mobility OEM, has partnered up with CredR, an omnichannel used two-wheeler consumer brand, to come up with an exchange program. Under this program, people can exchange any petrol-powered two-wheeler for a brand-new Hero Electric scooter.
The demand for electric vehicles in India had been on a gradual rise. However, it has witnessed quite a surge in recent months. One of the reasons for it is that ever since Covid-19 happened, people have become more environment-conscious and are moving towards the adoption of electric vehicles. EVs are also gaining higher acceptability due to the low purchase price, low running costs, and ease of use. Considering all these possibilities, Hero Electric and CredR have come together to provide a feasible option for people who are looking to switch to affordable electric mobility.
Speaking on the announcement, Sohinder Gill, CEO, Hero Electric, said:
As one of the leading EV brands in India, we are looking to enhance the accessibility and affordability for e2W buyers. Post unlock, we have seen good demand for Hero Electric scooters as a reliable and affordable personal mobility solution. We believe increased consciousness towards safer and affordable means for transportation will make more petrol buyers consider EV. At this juncture, the instant exchange scheme from CredR clubbed with unique leasing and low instalments will only help more people buy a Hero Electric scooter.
Users will be provided with convenience and hassle-free exchange of used two-wheelers for electric scooters and receive their new vehicle within days. Customers will need to bring in their old petrol 2-wheelers for a physical inspection and valuation at any Hero Electric showroom. An instant price quote/estimate will be generated through the proprietary pricing application powered by CredR.
To complete the transaction, CredR will verify the documents and the health of the petrol version of the two-wheeler. The exchange price will then be adjusted against the final cost of the new Hero Electric two-wheeler. Currently, the program is applicable in Delhi NCR, Hyderabad, Jaipur, Bangalore and Pune and will soon be expanded to other cities across India.