Hero Electric, electric two-wheeler company, today announced its partnership with Bangalore-based Electric mobility rental start-up Bykemania. To keep up with the growing demand, Bykemania has successfully developed a wealth creation model called Volaris through which even small ticket investors will be able to own and lease EVs to Bykemania on a revenue share basis.
Hero will deliver 5,000 Nyx-HX, a work horse from the ‘City-Speed’ category, to Bykemania for its Volaris program which has garnered high interest from wealth advisors.
Hero electric’s two-wheelers ensure low running cost, high load carrying capability, intercity range, and various other customisable features for its clients, the company said in a press statement.
The Bangalore-based startup, Bykemania with a registered customer base of 500,000+ has generated more than 100,000 subscriptions so far through its consumer app and operates across Bangalore, Delhi, Bhubaneshwar and Kolkata. Rapidly increasing fuel prices and alarming pollution rates have left the Indian commuter helpless. Electric Vehicles have therefore become the need of the hour.
Sohinder Gill, CEO, Hero Electric said, “Bykemania has created a unique tech enabled platform with strong track record for leasing two-wheeler vehicles. This makes it a win-win situation in last mile connectivity, which is the main motivation behind the tie up with Bykemania. At Hero, we strive to provide complete solutions to a B2B customer ensuring 90 percent plus uptime, through our 700 plus sales touchpoints. We will thus be able to offer longer rides and a lower cost of ownership while delivering powerful, rugged vehicles to cater to modern consumers inclined towards rental services offered by Bykemania.”
Subham Krishna, Founder, Bykemania said, “Our partnership with Hero Electric [provides] our users access to high quality yet affordable two-wheelers, tailor-made to manage the range, durability, and payload expectations. We have seen triple digit demand growth in our EV segment and our partnership with Hero electric will enable us to service massive demand from business’ and end consumers”