OTO partners with PURE EV in its mission to accelerate Electric Vehicle Adoption

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Bengaluru, September 23rd, 2021: OTO, the two-wheeler buying and financing innovator, today announced its partnership with PURE EV, as they endeavour to drive the future of e-mobility together. As a part of this partnership PURE EV will showcase its range of electric vehicles from scooters to e-bikes on the OTO platform and offer flexible financing options for customers to join the EV revolution. OTO and PURE EV want to offer free home test rides, affordable interest rates and the innovative Ownership Monthly Instalments (OMIs) for customers to purchase the PURE EV electric mobility products and go green.

Commenting on the partnership, Sumit Chhazed, Co-founder, OTO, said, “The Indian two-wheeler market has maintained a steady growth. While this has been driven by internal combustion vehicles, we take great pride in partnering with PURE EV in the journey of transforming the Indian market by making ownership of EV more accessible. PURE EV’s complete range of electric mobility products will be available on our platform. Through this partnership with PURE EV, one of the most entrusted EV companies with a global presence, we are looking at disrupting the market and offering a bouquet of innovative financial solutions like never before.”

Rohit Vadera, Co-founder, PURE EV said, “Electric mobility is the way of the future but as Industry players it is our duty to make its ownership accessible and affordable through an innovative approach. We recognize that OTO has developed the discovery platform and financing options that will bring PURE EV to a larger set of customers and push towards greater adoption. We believe that collaborations such as this will play a significant role towards a greener and more sustainable tomorrow.”

Started in 2018, OTO operates on an innovative financing model for 2-wheelers where the buyer pays an upfront amount like any other loan but gets up to 35% lower EMIs with an option to retain, return or upgrade at the end of the tenure. The platform works in partnership with various banks and NBFCs to provide the most hassle-free financing options to its customers. It also provides full auto lifecycle management, from credit underwriting to insurance, maintenance, and eventual resale of the vehicle.

With this partnership, PURE EV Vehicles will be made available through the OTO’s Platform across 5 cities, aiming to sell and finance 1000+ two wheelers together by December and further plans to expand pan India. OTO’s robust growth and collection performance garnered strong interest post-pandemic from various banks and NBFCs and got it multiple lending partners with the commitment of lending over INR 250Crs on the OTO platform for the next 12months. The company recently raised $6M in a Series A investment round led by Matrix Partners India to expand and re-imagining the 2-wheeler buying and ownership experience for millions of Indians.