The strategic partnership will see Hero Electric deliver 5,000 electric two-wheelers to Bykemania over the next few years.
Hero Electric, India’s largest electric two-wheeler manufacturer, has announced a partnership with Bengaluru-based electric mobility rental start-up Bykemania. Under the terms of the strategic partnership, Hero Electric will deliver 5,000 electric two-wheelers to Bykemania over the next few years. Bykemania has developed a wealth creation model called VOLARIS through which small ticket investors will be able to own and lease electric two-wheelers to Bykemania on a revenue-sharing basis. Bykemania has a registered customer base of over 500,000, and has generated more than 100,000 subscriptions so far through its consumer app and operates across Bangalore, Delhi, Bhubaneshwar and Kolkata.
Speaking on the partnership, Sohinder Gill, CEO, Hero Electric said, “Over the last few years, intra-city transportation has become crucial as doorstep deliveries have increased manifold. The lower total cost of ownership and operating costs have made EVs more attractive for the intra-city cargo segment. 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 per cent 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.”
Shubham Krishna, Founder, Bykemania said, “Our biggest challenge was to identify the right product that can withstand the road, environmental, and usage conditions without compromising on key performance metrics. Our partnership with Hero Electric is a massive step forward in this direction, as our users now have 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.”
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 customizable features for its clients. Making it the best available electric mobility solution ecosystem through a comprehensive leasing solution, the bikes will be serviced end-to end by Hero Electric.