New Delhi: ACKO, a private sector general insurance company in India, has introduced an extended battery warranty plan tailored for removable batteries of electric vehicles (EVs).
The plan is available with the VIDA V1, the first EV launched under the emerging mobility brand, from the house of Hero MotoCorp. The plan covers the vehicle for the fourth and fifth year and up to 60,000 km. The plan helps eliminate customer concerns around the battery life and performance, paving the path toward better EV acceptance, the release said.
As per ACKO’s EV report, 49% of EV owners believe battery replacement costs are a significant part of EV ownership, and to provide a solution to this, the extended coverage safeguards the vehicle owner against unforeseen repair costs thereby instilling confidence in customers for owning an electric vehicle.
The association also aligns with the Battery Waste Management Rules (BWMR), ensuring responsible disposal of used batteries.
Animesh Das, Chief Underwriting Officer, ACKO, said, “In alignment with the Government’s vision for a 100% electric vehicle nation by 2030, encouraging electric mobility among masses is our priority. Our battery warranty plan is poised to bring access to high-quality EVs in India by boosting confidence toward battery-damage and skepticism amongst customers. We’re confident that Hero’s cutting-edge technology and our extended warranty solutions will make premium electric scooters accessible to a broader audience by augmenting the avenues for financing.”
The plan seeks to bring in a synergy that reshapes the narrative of EV ownership, making it inclusive, financially viable, and environmentally responsible, the company said in a media release.
