Monday, May 20 2024 | Time 07:52 Hrs(IST)
image
Business Economy


OTO launches 'Rider Empowerment Programme' for shipping agents to own their two-wheelers

Mumbai, Nov 1 (UNI) OTO, the two-wheeler buying and financing innovator, today announced the launch of its Rider Empowerment Program (REP), as they endeavour to help shipping agents, own and ride their two-wheelers. The program also benefits the large segment of last-mile logistics companies to aid and incentivize their employees to ride a brand-new two-wheeler to earn, keeping their asset-light.
The program allows complete freedom to the riders to select and own two-wheelers of their choice. This can be a regular motorbike or an electric two-wheeler, which has currently seen steady growth. The partner companies, who enroll in this model, are only required to make timely payments of EMIs to OTO on behalf of the riders while ensuring that the riders get enough opportunities weekly, to meet the EMI expenses. With an initial down payment of just 10%, the program also enables multiple tenure options from 12 to 30 months. The vehicle is also comprehensively insured for the complete tenure.
Commenting on the launch, Sumit Chhazed, Co-founder, OTO, said, “With a huge uptake in the number of shipping agents across the country during the pandemic, there was a dire need to support our fellow riders. Through the Rider Empowerment Program, we aim to return the services offered by them during crucial times, helping the riders become Atmanirbhar - driving their own vehicle to earn more. Additionally, it helps the partner companies to retain their employees for a longer time through incentivizing them.”
For this program, OTO has partnered with Zyngo – a last mile logistics company and moEVing – an EV tech platform. OTO further aims to enroll around 10,000 riders in the coming months and has committed a capital of INR 75 Crores under the program.
Prateek Rao, Founder, Zyngo Mobility said, “As for any company, their people are a possession to keep, and as Industry players, we must make their lives easy through affordable access and ownership of their assets like two-wheelers. We recognize that OTO has developed the Rider Empowerment Program that will bring our riders much-needed relief. We believe that collaborations such as this will play a significant role towards a growth like never before.”

UNI JS RJ 1619
More News

BNI Galaxy chapter wins prestigious 'Best Chapter Award' in Hyderabad

19 May 2024 | 7:00 PM

Hyderabad, May 19 (UNI) BNI Galaxy, the most promising chapter in the BNI Hyderabad region, received the coveted ‘Best Chapter Award’ for its consistent and outstanding performance across multiple parameters, including referrals, thank-you notes, and member inductions.

see more..
FashionTV announces  tie-up with GlenWorld Realtors in Tricity Chandigarh

FashionTV announces tie-up with GlenWorld Realtors in Tricity Chandigarh

19 May 2024 | 4:58 PM

Chandigarh, May 19 (UNI) FashionTV, world’s largest Fashion and Lifestyle, Media Television Channel with its presence in 196 countries and with over 2 billion viewership, has announced its partnership with GlenWorld Realtors, a dynamic real estate company in North India.

see more..

EgyptAir adds flights on New Delhi-Cairo sector

18 May 2024 | 8:15 PM

New Delhi, May 18 (UNI) Egyptian national carrier EgyptAir on Saturday announced expansion of its Cairo-New Delhi service to daily from current four flights a week.

see more..

Agua India ties up with All Kerala Package Drinking Water Distributors Association

18 May 2024 | 7:57 PM

Kochi, May 18 (UNI) Leading innovative startup, Agua India, announced on Saturday its partnership with the All Kerala Packaged Drinking Water Distributors Association (AKPDWDA), aiming to enhance accessibility and quality of packaged drinking water across the state.

see more..

Creatara triumphs with double wins at "The Future of Design 2024" Awards

18 May 2024 | 6:42 PM

Mumbai, May 18 (UNI) Creatara, an innovative leader in the electric two-wheeler industry, has garnered top accolades at Business World’s prestigious "The Future of Design 2024" awards.

see more..
image