~  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.

The post Ather Energy introduces ‘Battery as a Service’ and a host of new initiatives to accelerate EV adoption across India appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, 21^st April 2025: Montra Electric and Magenta Mobility have signed a Memorandum of Understanding (MoU) to enhance sustainable logistics solutions in India. The MoU was signed by Mr. Saju Nair, Chief Executive Officer, TIVOLT Electric Private Limited (SCV division of Montra Electric) and Mr. Maxson Lewis, Managing Director and CEO, Magenta Mobility.

Under this partnership, Tivolt Electric Vehicles (SCV division of Montra Electric) will supply 100 Eviator E350L electric vehicles to Magenta Mobility, a leading player in EV logistics, for deployment across diverse applications, including FMCG, grocery, e-commerce, and telecom operations. The deployment will substantially strengthen Magenta Mobility’s capacity to offer sustainable and efficient logistics solutions to its clients.

The recently launched EVIATOR E350L vehicles at the Bharat Mobility Global Expo stands out with its class-leading specifications, high-performance capabilities, and advanced software-defined vehicle (SDV) and telematics solutions. In addition, Montra Electric will provide tailored service and charging solutions to maximize uptime and operational efficiency for Magenta Mobility’s fleet.

With this partnership, Montra Electric and Magenta Mobility will aim to accelerate the adoption of electric vehicles in the 4wheeler Small Commercial Vehicle (e-SCV) segment. The primary focus will be on increasing daily mileage, supporting intercity operations, and enhancing driver comfort and safety. Today, as the demand for structured and reliable players in the EV logistics sector continues to grow, this partnership is set to redefine industry benchmarks and pave the way for a more efficient and sustainable future.

Mr. Saju Nair, Chief Executive Officer, TIVOLT Electric Vehicles Private Limited (SCV division of Montra Electric) said, “We are delighted to join hands with Magenta Mobility, and this collaboration marks a significant step in our mission to drive electrification in commercial logistics. Our EVIATOR features innovative technology, industry-leading total cost of ownership, and will ensure maximum profitability for our customers. By partnering with Magenta Mobility, we are not just supplying EVs but also delivering a complete ecosystem that ensures efficiency, reliability, and profitability for fleet operators.”

Mr. Maxson Lewis, Managing Director and CEO, Magenta Mobility said, “We are excited to collaborate with Montra Electric. Magenta Mobility is always committed to sustainable and efficient logistics in India, and Montra Electric’s EVIATOR perfectly aligns with our vision to revolutionize green logistics in country.”

Montra Electric will closely work with Magenta Mobility to understand their specific applications, delivering tailored service and charging solutions that maximize uptime and profitability. Furthermore, this partnership will introduce India’s first true EV in the 3.5-tonne segment, redefining standards for sustainability, efficiency, and performance in commercial transportation.

As India moves towards green mobility, the partnership between Montra Electric and Magenta Mobility will help in redefining the commercial EV landscape, providing businesses with innovative, sustainable, and efficient mobility solutions

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The company has slashed prices by up to ₹13,000/- on selected models to strengthen its market presence and attract a broader base of EV consumers. The revised pricing applies to models including WOLF 31AH, GEN NEXT 31AH, GEN NEXT NANU PLUS, WOLF PLUS, GEN NEXT NANU ECO and WOLF ECO.

With a growing portfolio of electric mobility solutions and a customer-first approach, Wardwizard Innovations & Mobility Limited continues to strengthen its position in the EV industry. These customer-focused decision reflects the brand’s ongoing dedication to delivering value, innovation, and responsible transportation options.

The post Wardwizard Innovations & Mobility Limited Announces Price Reduction Across Joy e-bike Models to Boost EV Adoption in the country appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Under this agreement, Mufin Green Finance Limited will provide seamless financial solutions to customers purchasing L3 & L5 Passenger and Cargo electric three-wheelers of Wardwizard Innovations & Mobility Ltd. through its authorized dealer network. Wardwizard will facilitate proper documentation, ensure vehicle registration with hypothecation to Mufin, and guarantee timely delivery. The company ensures seamless battery support for both Lead Acid and Lithium Batteries, offering reliable performance during the eligible warranty timeframe. A notable highlight of this partnership is that Mufin Green shall also extend its financing solutions to support fleet operations (B2B) for Joy e-bike electric two-wheelers (2W) and Joy e-rik electric three-wheelers (3W). This includes providing tailored financing options for fleet owners and operators, further accelerating the adoption of electric vehicles in the commercial and logistics sectors. 

The MoU emphasizes collaborative efforts to create a robust EV financing ecosystem. While Mufin will manage credit evaluations, financing terms and carbon credit benefits, Wardwizard will provide operational support, including buyback of repossessed vehicles in “as-is-where-is” condition. This partnership addresses critical barriers in EV financing and accessibility, paving the way for sustainable mobility solutions.

Commenting on the partnership, Mr. Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, said, “We are excited to partner with Mufin Green Finance as their mission to support sustainability aligns with our mission to drive green mobility. The partnership will help us empower the consumer segment and increase the penetration of EVs by facilitating customers’ viable financial support. We look forward to strengthening the EV ecosystem in partnership with Mufin Green Finance Ltd. and making EV ownership more accessible and affordable in India.”

On this occasion, Mr.Kapil Garg, Mufin Green Finance Limited, Co-Founder & Managing Director said, “Our association with Wardwizard reflects our promise to drive the growth of sustainable mobility in India. By offering accessible and flexible financing options for their L3 Passenger and L5 Cargo electric three-wheelers, we aim to make EV adoption seamless and affordable for customers while contributing to a greener future.”

This partnership between Wardwizard Innovations & Mobility Ltd. and Mufin Green Finance Ltd. represents a significant step toward accelerating the adoption of electric 3W vehicles in India. By combining Mufin’s robust financial solutions with Wardwizard’s advanced EV technology, the collaboration aims to facilitate a seamless and convenient transition to sustainable transportation for customers.

The post Wardwizard Innovations Joins Forces with Mufin Green Finance to Accelerate EV Adoption with Affordable Financing for Electric Three-Wheelers appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.