The running cost of an electric two-wheeler is very low, and when you compare it to a petrol two-wheeler, its a no brainer that EVs are much more pocket friendly. But they come with a higher price tag, and pose the inconvenience of range and charging times. While the latter problem will be solved overtime with better charging infrastructure and better battery tech, the former is a problem to which a start-up called OTO has solution to.
Also Read: Electric Two-Wheelers With Fastest Charging Times
Electric two-wheelers are much cheaper to run than petrol powered two-wheelers.
OTO is an online two-wheeler retailing startup, which provides support with the financing and ownership of two-wheelers. The start-up caters to things like home-trails of two-wheelers, online purchase, financing, and other formalities for a host of different two-wheeler manufacturers. But one of its most interesting business models is the two-wheeler leasing option.
Using this option, consumers can easily avail purchasing an electric two-wheeler and keep paying EMIs until they choose to use the vehicle, after which they can trade-in the vehicle. This option provides flexibility for first timers to try their hands out on an EV for a few months, and see if using them is really practical for them. This coupled with OTO's upto 35% lower EMI costs makes the EV ownership much easier, and flexible.
Co-Founder & CEO of OTO, Sumit Chhazed.
Speaking to carandbike, OTO's CEO Sumit Chhazed said that the start-up is currently retailing 5,000 two-wheelers through its online portal every month, and it targets 50,000 bookings in the next 2 to 3 years. Speaking about EVs, Sumit said that the start-up currently has electric two-wheelers from 6 to 7 brands on offer right now, with a target of having 12 to 15 brands on their website by the end of the year. He also added that OTO will not blindly take any manufacturer on board, but it will “curate and bring the right products to the market.” According to him, there's a huge potential in the online two-wheeler retailing space for at least the next 2-3 years, which is why the start-up isn't looking to enter the used two-wheeler space right now, but is only targeting the new two-wheeler market,
