Electric vehicles are already redefining the way we think about transportation with their eco-friendly and economic benefits. But now, there’s another groundbreaking innovation that’s taking the EV market by storm: the battery subscription model. By offering flexibility and eliminating the challenges of battery ownership, it is revolutionising how we experience electric driving. In this blog, we will understand in detail how this model works, its benefits and why it is the next big thing in the EV world. So, let’s get started!
Now, the EV battery subscription model isn’t too complicated. Similar to subscribing to a streaming service for your favourite shows and movies, the battery subscription model lets you pay a monthly fee to use the battery. You don’t own it outright; instead, you have access to a battery without the hassle of replacement.
Just as you don’t feel the need to own a fuel tank for your petrol-run vehicle, similarly there’s no need to own the EV battery when you can subscribe to it. In fact, subscribing to an EV battery can be a smarter and more hassle-free alternative to owning one. When you subscribe, you no longer have to worry about the battery repair and replacement costs. If your battery starts to falter or needs replacing, the subscription service providers will take care of it.
In India, Lectrix EV is the pioneer of this innovative model and has done so by completely delinking the battery from their electric scooters. This model not only offers higher flexibility to the users but also makes buying electric scooters more affordable. Apart from being flexible, convenient, and hassle-free for customers, this approach lets them pay only for the electric scooter at the time of purchase. They can subscribe to the battery at as low as Rs. 999/- and reduce their upfront costs by 40%.
The battery subscription service model offers numerous benefits compared to the traditional battery ownership model, including:
Buying an electric scooter can be expensive and it is mainly due to the high cost of the EV battery that comes with it. When the battery is delinked, customers have the option to subscribe to the battery instead of buying it outright. This brings down the initial cost of purchasing an e-scooter by Rs. 40,000.
With an EV battery subscription, you only pay a fixed monthly fee, which can help you in financial planning and budgeting. Additionally, the subscription service includes the cost of battery repair and replacement. So, you don’t have to worry about any unexpected costs if the battery starts to degrade or gets damaged.
Many subscription models also come with a lifetime battery warranty. For instance, Lectrix offers subscription-based EVs that the users can ride without any kilometre restrictions and the battery will still be insured against any failures or defects throughout the subscription period. This offers a great relief to riders who commute daily or for longer distances.
Another advantage of the EV battery subscription is that users enjoy full control over their subscription plan. They can pause and resume their subscription if they want. For instance, if you’re going for a long vacation and won’t be using the battery, then you can pause the subscription. Once you’re back in town, you can resume it. This way you will only pay for the battery when you’re using it.
Additionally, if you’d like to purchase the battery in the future, you can do so by contacting the service provider. You can simply end the subscription and purchase a new battery or the one you’ve been using and the price can be calculated depending on the battery’s condition
The EV battery subscription model introduces a promising solution to alleviate major concerns such as battery degradation, high upfront costs, and outdated technological issues associated with electric vehicles. By delinking the battery from the vehicle purchase, subscribers can benefit from reduced initial expenses, no maintenance costs, and a lifetime battery warranty.
This model also promotes sustainability by extending battery life through optimized management processes. As the EV market continues to evolve, we envision that battery subscription services will have the potential to accelerate the transition towards sustainable transportation solutions while enhancing consumer confidence in electric vehicle adoption. At Lectrix EV, we have introduced the latest upgraded electric scooter models with battery subscriptions, which start at just Rs. 999 per month.
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