Techo Electra, CredR tie up to offer upgrade to e-bikes

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Techo Electra and CredR have forged a partnership to provide upgrade to electric bikes. While the former is a fast growing e-bike brand, the latter is an Omni-channel two-wheeler used consumer brand.

Through this collaboration, users can exchange any petrol-based two-wheeler for a Techo Electra electric bike.

While exchanging the old two-wheeler, CredR will provide instant quotes for old petrol scooters thus reducing the upfront cost of Techo Electra e-bikes.

Sasidhar Nandigam, Chief Strategic Officer, CredR, stated: “India’s Electric mobility landscape is going to change dramatically post COVID-19 pandemic and the sales are expected to rise. As the sales of overall two-wheelers will see a boom, there will also be a rise in sales of second-hand e-two wheelers.”

He added: “Currently, electric mobility contributes to less than 1% of the two-wheelers market that can only increase from here. We are tremendously excited to partner with Techo Electra in bringing about this shift in the market.”

According to Prakash Bhootra, Managing Director, Techo Electra, “It’s great to get associated with CredR, this will further give a philip to the already growing EV2W space, there is a large section who wants to exchange their old vehicles with new ones, it’s all about making it as convenient as possible to buy a Techo Electra.”

Hassle-free exchange

As per the pact, customers will be offered with convenience and hassle-free exchange of used two-wheelers for electric bikes and receive their new vehicle within days.

An instant price quote/ estimate will be generated through the proprietary pricing application powered by CredR. CredR will verify the documents and the health of the petrol version of the two-wheeler to complete the transaction.

The exchange price will then be adjusted against the final cost of the new two-wheeler. At present, the scheme is applicable in Delhi NCR, Bangalore, Jaipur and Pune and will soon be expanded to other cities across the country.

(With inputs from Automotive Lead Research Team)

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