Electric vehicle startup Matter on Monday announced a “long-term partnership” with Bengaluru-based two-wheeler financing and digital commerce platform OTO soon after the launch of its first EV bike—-Matter AERA—last month.
The partnership will facilitate bookings for the much-awaited electric bike, which are expected to commence within the next 90 days, Matter Group CEO and Founder Mohal Lalbhai told DH.
OTO will also aid potential buyers in securing financing for Matter AERA purchases at more appealing rates as the company claims to have 35 per cent lower EMI options than other financiers.
Through the partnership, the companies are also hoping to focus on deeper penetration of EVs in the country’s smaller towns and cities, where “financing can often be tricky.” OTO, which already has presence in 20 Indian cities, including Bangalore, is aiming to hike this number up to 30-35 in the current fiscal, which could include cities like Mysore, Tumkur and Mangalore, At the same time, OTO aims to expand its EV portfolio to 40 per cent from the current 20-22 per cent, CEO and Co-founder Sumit Chhazed said.