Ather launches buyback programme, slashes prices of 450+ by Rs 9,000

FOMM AWD Scooter Concept | FOMM or First One Mile Mobility came up with an electric scooter concept model at the Bangkok Show this year. Its battery life is six hours. The all-wheel drive scooter has two 2.96 kWh lithium-ion batteries which power two electric motors leading to an output of 10 PS and 420 Nm of torque.

Ather Energy, the electric two-wheeler start-up, has launched a buyback programme for the 450X, guaranteeing a buyback for Rs 85,000 at the end of three years after purchase.

The Bengaluru-based company also has a buyback scheme on the 450+, one of its two models available in the market for sale, for Rs 70,000. Hero MotoCorp, who holds a significant stake in Ather, had launched a buyback scheme last year for its scooters.

Besides the three year validity of the scheme, total mileage of the two scooters’ is capped at 30,000 km. This is the first time an electric two-wheeler company has launched a buyback programme in India.

Ather has reduced the price of the 450+ by Rs 9,000, taking the new price to Rs 139,990 (ex-showroom). The company stated that this was possible after withdrawal of the battery subscription scheme. Price of the 450X remains unchanged at Rs 149,000, making it one of the costliest electric two-wheelers in India.

Speaking to Moneycontrol, Tarun Mehta, co-founder and CEO, Ather Energy, said, “Given the pandemic it was not easy to get new partners onboard. We also need to understand details announced by the government on battery swapping. So, we are putting the battery subscription scheme on hold. We may in 2021-22 bring it back depending on market situation.”

The company has assured that the price reduction on the 450+ has not translated to any changes to the vehicle. “Nothing has changed in 450+ from the consumer perspective. The speed, ride experience and performance of the vehicle is just like before,” Mehta added.

As for the certified range of the two models, the 2.7 kwh battery on the 450+ gives a range of 100km, whereas the 2.9kwh battery on the 450X gives it a range of 116km. The true range (in actual driving conditions) of the 450+ is around 70km and 450X is around 85km.

Ather has launched an introductory lease plans, which allows consumers to ride the models for a monthly rental of Rs 3,900 after a down payment of Rs 25,000. The price includes cost of insurance and service. The consumer has the option of opting out of the scheme any time after 12 months with a 100 percent cashback at the end of three years.

To reduce the overall cost of ownership of the Ather 450X, Bengaluru consumers can exchange their old petrol two-wheeler and others can opt for low interest rate loans from multiple partners that Ather Energy has tie-ups with.

Ather is preparing to commission its new Rs 635 crore, 500,000 units a year capacity plant in Tamil Nadu in December.