Techo Electra And CredR Partner To Provide Upgrade To Electric Bikes

Electric mobility has gained unprecedented importance in India over the last few years. As a result of the COVID-19 pandemic, people are becoming environment conscious and are moving towards the adoption of electric vehicles. Moreover, EVs are gaining higher acceptability due to the low purchase price, low running costs and ease of use. With people moving towards EVs, it was natural for CredR – an Omni-channel two-wheeler used consumer brand to collaborate with Techo Electra, a fast growing Electric Bike Brand. With this collaboration, users can exchange any petrol-based two-wheeler for a Techo Electra electric bike. While exchanging the old two-wheeler, CredR will offer instant quotes for old petrol scooters thus reducing the upfront cost of Techo Electra e-bikes.

Users will be provided 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. 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 Techo Electra electric two-wheeler. Currently, the program is applicable in Delhi NCR, Jaipur, Bangalore and Pune and will soon be expanded to other cities across India.

Commenting on this collaboration, Sasidhar Nandigam, Chief Strategic Officer, CredR said, “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. 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.”

Speaking on the announcement, Techo Electra M D, Prakash Bhootra said, “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.”