Hero Electric Partners with OTO Capital

• Published On: 9 February 2022
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OTO Capital will offer low-cost financing solutions on the Hero Electric range of scooters for B2B companies

Hero Electric has partnered with OTO Capital to offer low-cost financing solutions on its scooters for B2B companies in the Indian market. As a result of the partnership, the B2B partners and riders can opt for OTO’s flexible Super EMI Plan. It allows them to book a test ride with their choice of electric scooter and pay the amount later. As per the agreement, Hero Electric plans to deploy 20,000 plus vehicles from January 2022 to March 2023. Furthermore, an additional cushion via its leasing option can be available with Hero Nyx range of e-bikes.

The collaboration will further enable customers to enjoy owning the scooter without making the actual purchase of the vehicle. Speaking on the partnership, Mr. Sohinder Gill, CEO, Hero Electric, said, “Electric two-wheeler financing is the biggest growth driver towards mass adoption in the country. This association will allow easy financing options in the B2B space to promote a sustainable transportation model. With the government’s focus on EV adoption, we are confident towards greater acceptance of clean and electric mobility in India. The tenure leasing option is an attractive concept for evolving Indian customers. We believe that this is a lucrative measure to facilitate purchase at the customer convenience adding to the easy and seamless ownership experience."

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The partnership will facilitate easy financing options for the B2B space and offers its services to e-commerce and food delivery platforms. The OTO flexible Super EMI Plan will allows them to opt for ownership through multiple tenure plans on a fixed monthly charge which includes RTO and Insurance. Adding to this, Sumit Chhazed, OTO said, “Two-wheelers are the most popular mode of personal transportation in India. With the increasing consumer interest and favorable policies, the industry is picking up pace, and hence, we take great pride in partnering with Hero Electric in the journey of making EV more accessible. Through this partnership with Hero Electric, we are looking at facilitating our expertise of providing a wholesome digital buying experience with flexible financing options to drive the e-mobility business in India.”

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