India: Ather Energy ties up with scooter rental startup Bounce

Image from pixabay

In an attempt to explore new ownership model(s), Bangalore-based electric scooter startup Ather Energy has entered into a strategic arrangement with the bike rental platform Bounce.

Under the tie-up, customers can buy an Ather 450 on Bounce website and rent or lease it out on the same platform. The electric scooter purchased and rented out on Bounce will bear commercial registration.

“In order to list your Ather 450 for rent through Bounce, you are required under the Motor Vehicles Act to obtain a commercial permit,” Bounce said on its website.

Ather Energy confirmed that it has tied up with Bounce under it’s peer-to-peer or P2P program wherein the cost of purchasing Ather 450 with commercial registration is about 1.15 lakh on-road as against 1.13 lakh for private usage.

According to Bounce, the on-road price of Ather 450 under this scheme includes the cost of the vehicle, registration, insurance, tax and the benefits under the Fame subsidy, along with portable charger and 5-year comprehensive insurance.

Buyers of Ather 450 get a benefit of 26,732 as a subsidy under the government’s Faster Adoption and Manufacturing of Hybrid and Electric Vehicles or Fame 2 scheme.

“The Bounce platform allows you to own Ather 450 at a lower cost of ownership by allowing you to earn money on a monthly basis by sharing it when you don’t use it,” the bike rental startup said.

“Select the number of days you want to list it (Ather 450) for, share it with users of the Bounce platform and get compensated for it from Bounce,” the bike rental startup said.

According to Bounce, if Ather 450 owner rents out his electric scooter on Bounce for 4 weekends or 8 days, he/she can earn up to 2,500 per month.

On its website, Bounce has clarified that although it may not charge the Ather 450 owners any fee for listing the vehicle on it’s P2P platform, it may charge some nominal amount after every successful ride.

The Ather-Bounce offering will be operational only in Bangalore.

The article was first published on livemint.com  

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.