~ With Battery as a Service, Rizta is available starting at Rs 75,999 (ex-showroom Lucknow) and 450 Series is available starting at Rs 84,341 (ex-showroom Lucknow)
~ Extends Assured Buyback programme to larger customer base with up to 60% value guarantee after 3 years
~ Introduces Extended Comprehensive Warranty covering motor, motor controller, dashboard, charger, and 7 other critical components for up to 5 years or 60,000 kilometers (whichever is earlier)
Bengaluru, 14th August 2024: Ather Energy Ltd, India’s leading electric two-wheeler manufacturer, today announced three major initiatives designed to address the key barriers preventing consumers from switching to electric vehicles. The company has introduced Battery as a Service (BaaS), expanded its Assured Buyback programme to a larger customer base, and launched an Extended Comprehensive Warranty (ECW). All of these initiatives are aimed at making electric scooters a more accessible and worry-free choice for Indian families.
The initiatives directly address the three primary concerns that potential EV buyers face: upfront costs, uncertainty about resale value and warranty concerns. With BaaS, customers can now purchase the Ather Rizta starting at Rs 75,999 (ex-showroom Lucknow) and the 450 Series starting at Rs 84,341 (ex-showroom Lucknow), with flexible monthly plans for battery usage, offered by banks/non-banking financial corporations and other entities with whom Ather has partnered.
Ravneet S Phokela, Chief Business Officer, Ather Energy Ltd, said “As the EV segment continues to grow in the country, we see customers with different needs and challenges entering the segment. To unlock the segment’s true potential and accelerate growth, we’ve rolled out a slew of initiatives to cater to the different needs of our potential customers. With BaaS, ECW and Assured Buyback, we aim to address major barriers that exist for customers when purchasing a new EV scooter. As one of the leading players, we stay committed to making it easier for families to experience the benefits of EVs.”
Making EVs more affordable with BaaS
While the running costs of EVs are far lower than ICE vehicles the upfront cost can be a hindrance for someone wanting to switch. To address this Ather launched Battery as a Service (BaaS) where consumers have to only pay for the cost of the scooter without the battery and can choose a plan to pay for the battery as per monthly usage starting as low as Re 1 per kilometer. BaaS aims to make Ather’s electric scooters more accessible by reducing the initial investment required for EV ownership as it allows the price of the scooter to be split into ‘shell’ and ‘battery’. Customers can choose to pay the upfront cost of the shell and pay the cost of the battery as per their usage.
As a part of this offering, customers are charged based on the kilometre usage and the cost of the battery is recovered over a span of 3 to 4 years as per consumers preference. The BaaS model features a usage-based payment system for the battery component, with pricing at ₹1 per kilometer based on a 48- month package with a minimum of 1000 kilometers of monthly usage.
With BaaS the upfront cost of the Ather Rizta starts at Rs 75,999 (ex-showroom Lucknow) which is a 30% reduction from what customers would have otherwise paid. Apart from lower upfront costs, customers will get free fast charging for a year at Ather’s 3300+ fast chargers across the country eliminating both range anxiety and charging costs.
Assured Buyback Programme extended to a larger customer base
Building on the success of its pilot Assured Buyback programme, launched in February for a smaller customer cohort, Ather is now extending this offering to more buyers. The programme offers up to 60% of the scooter’s value at the end of three years and up to 50% after four years, subject to the kilometers travelled, providing customers with clear visibility on their investment’s future worth. This
addresses one of the most common concerns among potential EV buyers and the uncertainty around resale values in a rapidly evolving market.
Extended Comprehensive Warranty for complete peace of mind
Ather’s Extended Comprehensive Warranty protects customers against manufacturing defects on the battery and 11 other critical components for up to five years or 60,000 kilometers (whichever is earlier). Available to all AtherStackTM Pro customers, the warranty covers components including the motor, motor controller, dashboard, and charger among others. While electric vehicles have lower running costs than petrol scooters, the warranty ensures customers are protected from potentially expensive component replacements, providing complete peace of mind throughout their ownership journey.
