Recently, Electric lifecycle management start-up Welectric announced its new venture into the electric vehicles aftermarket business. With the new perpendicular, the company plans to deliver entrance engrossed annual conservation clarifications for electric two-wheelers (e2W), opening with Business-to-Business (B2B) clients.
The company states, it has hired former Bounce executive Munish Kumar to lead the business. The company will effort on unraveling the financing, preservation, and aftermarket dares of the e2W industry. It will expand its offering to individual consumers as well and build a digital multi-brand one-stop-shop for all-electric two-wheeler requirements.
Welectric Founder and CEO Vikas Jain said, “India is at the tipping point of commercial adoption of electric 2Ws, and I believe the entire two-wheeler industry is going for transition completely to electric within the next 10 years. This changeover is not just about the vehicle technology shifting from internal combustion to electric. The entire distribution and aftermarket ecosystem has to transition from fragmented and real estate heavy to digital and organised. Kumar's joining will help to define and establish a new-age digital and doorstep focused maintenance and aftermarket ecosystem for all brands of e2Ws.”
Welectric said, “Company is working with original equipment manufacturers (OEMs) such as Hero Electric, Ampere and Okinawa to offer their e2Ws on operating lease to institutional clients. The company aims to enable one million electric 2Ws within the next 5 years and aims to build a circular economy of these EV. The persistent increase in fuel prices as well as hike in subsidies for EVs has made using petrol 2Ws prohibitively expensive for last mile deliveries and therefore e2Ws are now not just an alternative but the only sustainable option.”