Electric vehicle maker Hero Electric, on Thursday, said it has partnered with Autovert Technologies for seamless ‘alternative ownership models’ for new owners.

Under this partnership, Autovert, a fintech start-up, will allow Hero Electric customers to opt for attractive subscription-based plans for an ‘all-inclusive price’ at the time of a new purchase, starting at ₹2,999 a month.

This all-inclusive subscription plans will allow Hero Electric customers to avail the vehicle itself, along with bundled services such as comprehensive insurance, service and maintenance, loyalty bonuses and attractive upgrade options.

These subscription plans are positioned to cater to the increasing demand from customers for alternative ownership options, which offer more flexibility and features than traditional auto finance, the company said.

Autovert would utilise its Internet of Things (IOT)-based technology platform called Autovert Plug to manage the vehicle through its lifecycle in the hands of the subscriber. The Autovert Plug Subscription plan has been launched with a few select dealers in Bangalore on pilot basis before a countrywide launch, it said.

“Ease and convenience are among the most valued aspects of buying any vehicle. Unfortunately, the EV sector does not experience much ease and joy when it comes to financing. Through our collaboration with Autovert, we are determined to offer singular experiences of buying and owning Hero Electric vehicles without much fuss,” Sohinder Gill, Chief Executive Officer, Hero Electric, said.

As sales volumes rise, this partnership with Autovert will simplify and facilitate EV sales in India, while giving Hero Electric buyers the ease that is priceless, he said.

“Customers today are looking for alternative ownership options, apart from ease of usage. The future of affordable personal mobility is electric driven. Understandably, so is our focus. The new generation of buyers looks for easier and newer ways of engagement – one that is data-driven,” Sachin Mehta, Co-Founder and Director, Autovert Technologies, said.