Sandeep Aggarwal-led Automobile marketplace Droom has announced its entry into the electric vehicles segment. The company has reportedly tied up with players like Mahindra, Hero Electric, Okinawa Scooters and Yobykes to offer a wide range of electric vehicles to its users.
Droom, which has been enabling customers to buy and sell new and old automobiles, has entered the category keeping in mind the environmental benefits and the Indian government’s focus on electric vehicles. As a part of the promotional strategy, Droom will be offering 100% cashback on the booking amount for all new bookings of electric vehicles.
Commenting on the announcement, Sandeep Aggarwal, Founder and CEO, Droom said, “The automobile industry in India is on the throes of disruption with the focus on electric vehicles and the increased use of artificial intelligence. The Indian government has announced that it wants only electric vehicles to ply on Indian roads by the year 2030. At Droom, our vision is to be the transaction platform for everything on motor and wheels and make their transactions easy, quick and trustworthy.”
Droom has also announced the price range for electric scooters, which is expected to be from $310 (INR 20K) to $660 (INR 42K). The electric cars are priced in the range of $125K (INR 8 Lakh) to $203K (INR 13 Lakh).
The Indian Government has been actively working on providing the right infrastructure for electric vehicles. It has also rolled out favorable schemes like 12% GST on electric vehicles, in comparison to 28% on petrol and diesel vehicles. The government has also launched a number of initiatives to expedite the adoption of electric vehicles like the FAME Scheme (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles), which is a programme that promises incentives to EV manufacturers and buyers.
A Look At Droom And The Online Automobile Marketplace Sector
Founded in 2014, Droom is an online automobile marketplace that offers a wide range of categories from bicycle to planes. Additionally, it provides other automobile services such as warranty, RSA, insurance and auto loan. Droom uses advanced technologies like de-facto pricing standard, full circle trust score, among others.