CredR partners Techo Electra for exchange of petrol two-wheelers with e-bikes

CredR, omni-channel platform for buying and selling used two-wheelers, on Monday said it has partnered with Pune-based electric two-wheeler maker Techo Electra Motors for exchange of any petrol-based two-wheeler with the latter's electric bike.

Under the collaboration, 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, the company said in a statement.

Commenting on the partnership, CredR Chief Strategic Officer Sasidhar Nandigam 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 per cent 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," he added.

Techo Electra Managing Director Prakash Bhootra said the partnership with CredR will further give a philip to the already growing electric two-wheeler 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," he added.

During the exchange process, customers will get an instant price quote/estimate generated through the proprietary pricing application powered by CredR, which will verify 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 programme is applicable in Delhi-NCR, Jaipur, Bangalore, and Pune and will soon be expanded to other cities across India, the statement said.