Pure EV, a Hyderabad-based electric vehicle startup has announced to increase the dealer margin on its products amid the ongoing Covid-19 lockdown. The company has announced that it has increased the previous 12 percent dealer margin to 15 to 18 percent. The company also says that the increase in dealer margin should result in price benefits to the customers. However, Pure EV also says that the discounts on the company’s products may vary from dealer to dealer. The reason behind is that the company has left it on dealers in terms of passing on the benefits to the customers. The dealer margins are enhanced till 31st May 2020.
Nishanth Dongari, Associate Professor, Department of Mechanical and Aerospace Engineering, IIT Hyderabad, and Founder, Pure EV said
PURE EV has been continuously working on price reductions on all models with the help of in-house manufacturing of high-quality Lithium Battery, and strong product design team who collaborate with various suppliers to fabricate critical components at affordable costs. We have 70 per cent indigenous content in terms of the value addition, and this factor is supporting the favourable unit economics, although import duties have been increased by 10 per cent since 1st April 2020, and rupee also depreciated by 10 per cent.
According to Rohit Vadera, Chief Executive Officer, Pure EV, these higher margins are the need of the hour for the company’s existing dealers and prospective dealers as well to ensure they stay profitable in these tough times. Pure EV also says that the dealers are being encouraged to pass on the benefits to the consumers in the form of better discounts. Pure EV has also announced tie-ups for financing with brands like Bajaj Finserv, IDBI Bank, Kotak Mahindra Bank, Pine Labs and Zest Money to extend EMI facilities. Apart from this, Pure EV has also launched third party backed extended warranty options in order to give comprehensive warranty coverage for three years.
Moreover, Pure EV is providing Personal Protective Equipment (PPE) to its dealers for protection against COVID- 19. The company currently has 72 touchpoints across 13 states of India and plans to expand to 200 dealers by November 2020.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.