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Hero Electric has announced its partnership with Autovert Technologies, a fintech start-up, for an 'alternative ownership model' for Hero Electric's new customers. Under this partnership, Autovert will allow the Hero Electric customers to opt for attractive subscription-based plans for an 'all-inclusive price' at the time of purchasing a new vehicle.
Commenting on the collaboration, Sachin Mehta, Co-Founder and Director, Autovert Technologies 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 echoes our sentiment of innovation and together we hope to provide the users with the financial ease to buy, run, and maintain the vehicle."
Commenting on the partnership, Sohinder Gill, CEO, Hero Electric 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. 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."
So what exactly is this partnership all about? The all-inclusive subscription plan will start at Rs 2,999 per month. This plan will allow Hero Electric customers to avail the vehicle itself, along with several other services such as comprehensive insurance, service and maintenance, loyalty bonuses and attractive upgrade options.
On the other hand, Autovert would utilize its IOT based technology platform called 'Autovert Plug' to manage the vehicle through its lifecycle in the hands of the customer. The Autovert Plug Subscription plan has been launched with a few select dealers in Bangalore on a pilot basis and will be launched across the country at a later stage. Hero Electric has aggressive plans aimed at revamping customer experience through this collaboration.
Thoughts About The Collaboration Between Hero And Autovert Technologies
Through this collaboration, Hero will be able to attract a lot of customers to buy their electric vehicles. It is said that electric vehicles will be the future of mobility as EVs will save the environment from the harmful pollutants that are caused by internal combustion engines.