Hero Electric partners with CredR to make e-two-wheelers more affordable

Hero Electric on Wednesday announced its partnership with CredR in a bid to make buying and owning an electric bikes more affordable in the country. This may be especially convenient for prospective customers who already own a conventional scooter which can be exchanged for a new e-bike option.

According to a press statement issued by Hero Electric, interested customers can exchange their existing two-wheelers running on petrol at its dealerships for a new e-bike. Upon a physical inspection of such a vehicle, an instant price quote or estimate will be provided through a proprietary application powered by CredR.

CredR will then verify the documents and the condition of the petrol two-wheeler and the exchange price will be adjusted against the final price of the electric Hero model chosen.

Currently, this program is only available to interested customers in Delhi NCR, Jaipur, Hyderabad, Bengaluru and Pune.

Hero Electric says that the objective is to further encourage people to choose a cleaner and more affordable commuting option, and to give a chance for them to ride in their existing two-wheelers for a new electric version. "We believe increased consciousness towards safer and affordable means for transportation will make more petrol buyers consider EV," said Sohinder Gill, CEO at Hero Electric. "At this juncture, the instant excahnge scheme from CredR, clubbed with unique leasing and low installments, will only help more people buy a Hero Electric scooter."