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The leasing option will be available from August 1st, 2020 exclusively in Bengaluru

Bengaluru, NFAPost: Ampere Vehicles, a wholly-owned electric mobility subsidiary of Greaves Cotton Ltd., announced its partnership with OTO Capital, India’s first start-up to offer vehicle leasing plan for buyers.

The leasing option will be available from August 1st, 2020 exclusively in Bangalore. However, the plans are to extend the service to Pune, Hyderabad, Delhi, Chennai and Cochin by the end of this year.

With this partnership the consumer can enjoy an electric two-wheeler at an affordable lease rental within 48 hours by going through a quick documentation process. Interested consumers can book their vehicles through the OTO Capital website or directly through the dealerships.

Buyers can also have their scooter home delivered. Owing to this partnership, the cost of monthly payments will be significantly reduced for the owner. For example, an Ampere Zeal model that would cost Rs 3,020 using other financial means can now be availed at an OMI (Ownership Monthly Instalment) of Rs 2,220.

OTO Capital has observed a surge in the interest from buyers since the Covid-19 outbreak. With public transport coming to a standstill in most parts of the country, people are wary of using ride-sharing apps and hailing cabs and are ready to own their own vehicles at an affordable cost.

As a responsible brand, pioneering the cause of clean last-mile mobility in the country, Ampere vehicles address health-conscious citizens looking forward to buying smart products that are affordable & sustainable in the long run.

With Covid pandemic, protection of health & wealth has assumed significant importance & Ampere electric scooters are ready to support all eco-conscious customers with this unique value proposition.

Electric vehicle

These scooters enable 90% savings as against conventional scooters. Also, electric scooters are zero-noise vehicles, promoting quiet drives and helping people to be calm and stress-free with less vibration and harshness which improves ride quality.

Commenting on the partnership, OTO Capital Co-founder Sumit Chhazed said entering the electric vehicle market is a big win for our company.

“We encourage our customers who are opting for an environment-friendly option of transportation. The partnership with Ampere Electric has come at a time when consumers themselves are very conscious of the choices they make and the impact it makes on the planet. We hope to partner with all their dealers in the major cities to help buyers own their electric bikes at a lower cost,” said OTO Capital Co-founder Sumit Chhazed.

Ampere Vehicles Chief Operating Officer P Sanjeev said the company is happy to partner with OTO Capital to lease a range of bikes.

“This is an innovative model that will show promising results in the near future and change the way the auto industry operates with more affordable solutions. The association is in line with our efforts to support many prospective e-scooter buyers as they are stressed to save cost owing to the current crisis scenario,” said Ampere Vehicles Chief Operating Officer P Sanjeev.

Ampere has over twelve years of experience in EV technology, designing and manufacturing electric vehicles. With a strong base of 60000 customers & growing backed by comprehensive EV ecosystem support from Greaves, Ampere is pushing boundaries to create an affordable & sustainable ecosystem for clean last mile mobility in India.

In the E-2W segment, Ampere is the fastest growing brand in India with presence in both B2C and B2B segments. Ampere is a Greaves Cotton group company since 2018 and is leading Greaves’ last mile E-Mobility foray. 

Greaves Cotton Limited is a diversified engineering company and a leading manufacturer of Cleantech Powertrain Solutions (CNG, Petrol and Diesel Engines), Generator sets, Farm equipment, E-Mobility, Aftermarket spares and services.

Greaves Cotton

Greaves Cotton is a multi-product and multi-location company with a rich legacy and brand trust of over 160 years and has established itself as a key player impacting a billion lives every day. The company manufactures world-class products and solutions under various business units and is backed by comprehensive support from 500+ Greaves Retail Centers & 6300+ smaller spare parts retail outlets across the country.

In the mobility segment, Greaves Cotton Limited manufactures 4 lakh plus engines annually, almost 1 engine per minute and provides low TCO mobility solutions to the majority of the population in India, moving more than 1 crore passengers and 5 lakh tonnes of cargo every day. Greaves Cotton augmented its clean technology portfolio in the last mile affordable 2W personal Mobility segment with Ampere Vehicles in 2018.

OTO  offers a  new model of financing for automotive purchases (cars and two-wheelers) and is targeted at retail customers.  OTO finance plan features  OMIs  ((Ownership  Monthly  Installments) which are 30% lower than EMIs and low, refundable down payment. 

Founded in  2018  by  IIT-Mumbai alumnus   Sumit Chhazed and Harsh Saruparia, OTO partners with Banks and NBFCs to provide the capital offers customers with an alternative option for financing their vehicles. OTO provides a full auto-lifecycle management, from credit underwriting to insurance, maintenance and eventual resale of the vehicle.

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