Electric vehicles (EVs) may play a critical role in the future of mobility but the journey so far has been fraught with challenges. While customers may fundamentally be in favour of switching to electric alternatives, when it comes to buying one, they are still hesitant. The biggest impediments to the adoption of these vehicles on a large scale are range anxiety (the worry that the vehicle will run out of charge before reaching the destination or charging point) and its price. According to an EY report, an electric car costs 2X times an ICE variant in India. The cost of an electric two-wheeler is 15% more than that of an ICE variant.
A Bengaluru-based startup SWYTCHD provides electric vehicles on a monthly subscription basis. This subscription is all inclusive which covers insurance, charging refunds, servicing, maintenance, and breakdown support.
The Bengaluru-based startup, founded in December 2021 by Sameer Arif, offers a range of EVs (both two-wheelers and cars) on a monthly subscription model. The subscription includes costs of insurance, general servicing, maintenance (including normal wear and tear), breakdown support, and charging refunds, up to a maximum distance of 1,200 km a month.
“Unlike a purchase process that requires a lot of time, dedication and capital, SWYTCHD is an easy decision with minimal paperwork, which can be done from the comfort of the home.”says Sameer
The subscription starts from Rs 5,000 for two-wheelers and Rs 30,000 for four-wheelers per month. The service is currently available only in Bengaluru. SWYTCHD has partnered with Bounce as the official leasing and subscription partner for its Infinity scooter. Apart from this, the company also offers two-wheelers from Ather, Revolt Motors, Hero, and Ola, and cars such as TATA Tigor XZ+, TATA Nexon EV XZ+ Lux, Hyundai Kona Premium, and MG ZS EV Exclusive.