Hero Electric Partners Earth Ride To Lease e-Bikes

Hero Electric has announced its partnership with Delhi-based start-up Earth Ride, to lease e-bikes to individuals, searching for new opportunities in the last-mile delivery model.

Earth Ride provides electric two wheelers to riders on a long-term lease, they will procure over 1,000 customised Nyx-HX and other e-scooters through the next financial year (2021). Earth Ride has partnered with other small-mid-sized companies, including companies such as Zomato and have provided special lease price for Zomato riders.

Earth Ride will provide electric two-wheelers to riders on a long-term lease. If the rider pays all the lease payments as per the established contract, they will be allowed the opportunity to own the vehicle at the end of the said lease period. Earth Ride takes care of insurance and other formalities during the lease period. This allows a person, who might not have the capital to buy a new electric scooter to start working immediately as a delivery partner with any of the delivery companies.

Speaking on the partnership, Sohinder Gill, CEO, Hero Electric said, “This will work as a catalyst in driving adoption of electric two-wheelers while also transforming the last mile delivery solutions from ICE engines to Electric vehicles..”

Adding to this, Dhairya Gupta, Founder & CEO, Earth Ride said, “This exciting engagement is not just an economic arrangement. This endeavor is something larger than monetary gains, for both Hero Electric and Earth Ride. Our current fleet has already accomplished three (3) lakh clean kilometres which has led to reduction of eight (8) MT of carbon dioxide emissions compared to petrol two-wheelers. Most of these Kms have been done in just past four months. This pilot has also shown that riders have managed to increase their net income by 30 percent as compared to their income had they been using a petrol two-wheeler.”