ACKO launches extended battery warranty for Ola & Ather

ACKO is offering battery coverage till the fourth and fifth year and performance coverage for up to 60,000 km.

ACKO has partnered with electric scooter makers Ola Electric and Ather Energy, to launch an extended battery warranty plan.

Battery life and performance are among the major concerns of most EV buyers. ACKO aims to alleviate these concerns by offering an extended battery warranty plan that includes battery coverage till the fourth and fifth year and provides performance coverage for up to 60,000 km. Other EV components are also covered in addition to the battery.

ACKO also offers the option to extend the loan duration for vehicles and thus reduce the EMI instalments. The extended battery warranty plan is transferrable to the new owner in the event of a sale. It is also said to affect the vehicle's resale value in a positive way.

According to ACKO, the EV market saw its all-time high in 2022 with a 223% growth in sales. The market is expected to grow at a CAGR of 44.5% between 2020 and 2025.

As per research conducted by ACKO and YouGov India, over 49% of EV car owners believe that battery replacement costs form a substantial part of EV ownership. 66% of the respondents assume that battery life only lasts between 2-5 years, while a majority of EV users believe that charging behaviour has a role to play in the vehicle's battery life.