Finance
The SAR Group’s electric mobility division, Lectrix EV, has introduced the E2W, priced at Rs 49,999. The first OEM to remove the battery from a car and provide it to customers as a service is Lectrix EV, especially in India.
By giving customers the option to subscribe to the battery separately, the company has changed the traditional ownership model and increased flexibility and cost-effectiveness. Aligned with the government’s goal of reaching Net Zero by 2070, Lectrix EV is developing strategies to hasten India’s transition to electric vehicles.
The product comes with a range of 100 km on one charge, a top speed of 50 kmph and a lifetime battery warranty, thereby alleviating any battery-related concerns.
Pritesh Talwar, President – EV Business at Lectrix EV shared, “This new electric two-wheeler offers unparalleled affordability with an ex-showroom price starting at Rs 49,999. The consumers are getting a high-speed EV at the cost of a slow-speed EV. This disruptive pricing strategy eliminates the need for heavy reliance on government subsidies, ensuring a sustainable and economically viable solution for both the OEM and customers.
He further said, “The concept is simple yet transformative – By delinking the battery from the vehicle and providing it as a service, the EV experience becomes more accessible and affordable for customers. When you compare our Battery on Subscription model to ICE vehicles, the advantages of the former are unmatched. The upfront cost of purchasing an ICE vehicle amounts to Rs 1 lakh, which is double the cost of our offering.”
He added, “Additionally, the monthly investment on petrol is on the rise, and this combined with the maintenance cost of an ICE vehicle makes our subscription plan more economical. The major challenges for EV adoption have been their high price and uncertainty around the battery and with this launch, we have solved both these challenges.”
Source:FE
