OTO encourages a shift to EV two-wheelers for reduction in CO2 emission and sustainable mobility
- TVS Electric, Ampere, Okinawa, Matter, Lectrix and Green Mobility took part in the 2Wheeler EV Marathon
Bengaluru, 4th June 2023 – OTO, a digital commerce and two-wheeler financier platform, successfully conducted first-ever Electric Vehicle (EV)-centric marathon called 2Wheeler EV Marathon in Bengaluru on Sunday to support EV adoption and pledged to create awareness on the larger goal on reducing CO2 emissions in the country. The event was flagged off by Commandant RK Singh of the Indian Cost Guard.
As we celebrate World Environment Day, it’s crucial for OTO to take up the responsibility of encouraging individuals who ride two-wheelers to switch to electric vehicles. This will significantly contribute to the reduction of carbon emissions across the country.
Traditional two-wheelers have been adding to the woes of environment pollution for decades, and the adoption of electric vehicles is crucial in reducing its impact. In FY23, the total number of EV two-wheelers were nearly 5% or 7.3 lakh out of the 15.86 million two-wheelers sold in India in FY23.
Sumit Chhazed, CEO and Co-Founder of OTO, said there is a huge scope for improving EV two-wheeler penetration and his clear message was: Let your next two-wheeler be an EV!
“As a two-wheeler finance and digital commerce platform, we recognize our responsibility to promote the use of EVs and reduce financing constraints for consumers planning to make the switch to sustainable transportation. The 2Wheeler EV Marathon is our first step towards that larger mission of green mobility. We believe that the shift towards EVs is not just an environmental necessity, but also an economic opportunity, and we are proud to be at the forefront of this change. At OTO, we envision a future where electric vehicles are the norm and sustainable living is a way of life, and we are working tirelessly towards making that a reality,” said Sumit Chhazed.
OTO’s partners, who are leaders in the auto industry, such as TVS Electric, Ampere, Okinawa, Matter, Lectrix and Green Mobility took part in the 2Wheeler EV Marathon and the raised awareness on the need for EV adoption for a sustainable future.
The EV Marathon witnessed participants showcasing their electric vehicles, ranging from e-scooters to electric bikes, providing a glimpse into the diversity and innovation within the EV market. The EV Marathon, a one-of-a-kind event, witnessed enthusiastic participation from EV enthusiasts, industry experts, and people who gathered to demonstrate their commitment to sustainable transportation.
Participants at the marathon and visitors experienced the thrill of driving an electric vehicle for the first time and showed interest in transitioning to electric mobility.
About OTO
Founded in 2018 by Sumit Chhazed and Harsh Saruparia, started off as a digital fintech platform focused on electric and internal combustion engines (ICE)-powered two-wheeler financing. By mid-2021, it also began selling two-wheelers on its digital platform, along with providing online services such as free test drives, expert suggestions, home delivery, vehicle insurance, and maintenance to its customers.
OTO, as a two-wheeler finance and digital commerce platform, is aiming to boost EV adoption in India. The company has tie-ups with all the major OEMs such as Hero, TVS, Bajaj, Ola electric, Ampere, Pure EV, and Okinawa among many others which makes their platform a go-to place to compare and choose from amongst all the options. Their commerce platform allows a complete resolution starting from reviews to test rides, booking with financing and insurance, maintenance, and reselling of the vehicle all in one place. As the company endeavours to boost EV adoption. With the financing of EVs still in a nascent stage, they also offer financing for EVs with up to 35%lower EMI, reducing the financing constraints of the consumers that are looking at going green. OTO, also plans to launch an exclusive platform for EVs in this quarter.
