Hero Electric partners startup Earth Ride to lease electric scooters

Hero Electric on Monday said it has partnered with Delhi-based startup Earth Ride to lease e-bikes to individuals, searching for new business opportunities in the last-mile delivery model.

The partnership aims to provide an avenue of livelihood for the youth of this country.

Earth Ride's model of lease-earn-own allows individuals - 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 or for their entrepreneurial enterprise, the company said in a statement.

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, it added.

Earth Ride will procure over 1,000 customised Nyx-HX from Hero Electric and other e-scooters.

Commenting on the partnership, Hero Electric CEO Sohinder Gill said the last year was a tough one, bringing hardships, and forcing everyone to evolve.

"The youth of the country have also looked at working with last-mile delivery solutions and we have forged successful partnerships with companies that are making a difference in the segment.

"Earth Ride's unique lease proposition makes for a win-win solution for us at Hero Electric and the customers. 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," Gill added.

Earth Ride Founder and CEO Dhairya Gupta said, "Not only is this partnership greener for the environment it is also economically beneficial for the riders and the companies...Together with Hero Electric, we are reinventing the market, reading the need of the hour and synergising our energies that will lead to a more sustainable, environmentally friendly and gainful economic future of India".