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Okinawa, CredR ink pact to launch exchange offer on petrol two-wheelers

·2-min read

Mumbai, Nov 17 (PTI) Electric two-wheeler maker Okinawa and online platform for used bikes CredR have partnered to launch exchange offer on any petrol-based two-wheeler for e-scooter.

As a result of the pandemic, people are becoming environmentally conscious and are moving towards the adoption of e-vehicles, which are gaining higher acceptability - also due to the low purchase price and running costs, among others. With people moving towards EVs, it was natural for CredR to collaborate with Okinawa, a release said on Tuesday.

The scheme was initially launched in Ahmedabad, Delhi NCR, Hyderabad, Jaipur, Bangalore and Pune, and will soon be expanded to other cities across the country, it added.

While exchanging the scooter, CredR will offer instant quotes for old petrol scooters, thereby reducing the upfront cost of Okinawa scooters, it said.

'India's e-mobility landscape is going to change dramatically post COVID-19 pandemic and the sales are expected to rise. As the sales of overall two-wheelers will see a boom, there will also be a rise in sales of second-hand e-two wheelers,' CredR Chief Strategic Officer Sasidhar Nandigam said.

Currently, electric mobility contributes to less than one per cent of the two-wheelers market that can only increase from here, he said, adding 'we are excited to partner with an industry giant like Okinawa in bringing about this shift in the market'.

To avail the scheme, the customers will need to bring in their old petrol two-wheelers for a physical inspection and valuation at any Okinawa showroom. An instant price quote/ estimate will be generated through the proprietary pricing application powered by CredR, the release said.

To complete the transaction, CredR will verify the documents and the health of the petrol version of the two-wheeler, it added.

'As one of the leading EV brands in India, we are looking to enhance the accessibility and affordability for e2W buyers. Post unlock, we have seen good demand for Okinawa e-scooters. We believe increased consciousness towards safer and affordable means for transportation will make more petrol buyers consider EV,' Okinawa MD and Co-founder Jeetender Sharma said. PTI IAS BAL