Mumbai, Bengaluru-based electric mobility startup Vidyut on Thursday announced the launch of its offline pre-owned EV sales and financing platform.
The latest offline services have been initially made available in Delhi-NCR, Hyderabad and Bengaluru, while there are plans to expand them to six more markets including Mumbai, Chennai, Pune, Lucknow, Agra and Kanpur by the end of this financial year. Vidyut said.
The company said it also plans to launch an online marketplace in the next six months.
The Bengaluru-headquartered company said that under the new offering, the company will manage the end-to-end process for owners, from vehicle inspection and valuation to sales and RTO documentation.
Currently, the platform offers resale of electric commercial three-wheelers from brands like Mahindra, Piaggio, Euler Motors, Greaves and Ultigreen.
“The lack of a robust resale market is one of the biggest obstacles to the pace of EV adoption. With the launch of our EV resale platform, we will focus on accurate and transparent vehicle and battery valuations.
Axitij Kothi, Co-Founder of Vidyut, said, “With our battery subscription model and EV financing services, this approach reduces the risk of remaining battery life, uncertain resale value, EV loan, thereby accelerating EV adoption. "
Vidyut was launched in November 2021 as a commercial EV financing platform.
One of the major barriers to EV adoption is the lack of access to the resale market and lack of discovery of the resale price of EVs and hence, over the last two years, the company has developed innovative solutions to inspect, price, sell and finance pre-owned EVs. Capabilities have been built. The company said, it has its own demand generation platform for used EVs.
The latest offline services have been initially made available in Delhi-NCR, Hyderabad and Bengaluru, while there are plans to expand them to six more markets including Mumbai, Chennai, Pune, Lucknow, Agra and Kanpur by the end of this financial year. Vidyut said.
The company said it also plans to launch an online marketplace in the next six months.
The Bengaluru-headquartered company said that under the new offering, the company will manage the end-to-end process for owners, from vehicle inspection and valuation to sales and RTO documentation.
Currently, the platform offers resale of electric commercial three-wheelers from brands like Mahindra, Piaggio, Euler Motors, Greaves and Ultigreen.
“The lack of a robust resale market is one of the biggest obstacles to the pace of EV adoption. With the launch of our EV resale platform, we will focus on accurate and transparent vehicle and battery valuations.
Axitij Kothi, Co-Founder of Vidyut, said, “With our battery subscription model and EV financing services, this approach reduces the risk of remaining battery life, uncertain resale value, EV loan, thereby accelerating EV adoption. "
Vidyut was launched in November 2021 as a commercial EV financing platform.
One of the major barriers to EV adoption is the lack of access to the resale market and lack of discovery of the resale price of EVs and hence, over the last two years, the company has developed innovative solutions to inspect, price, sell and finance pre-owned EVs. Capabilities have been built. The company said, it has its own demand generation platform for used EVs.
