ACKO General Insurance has introduced an Extended Battery Warranty plan tailored specifically for removable batteries for Electric Vehicles (EVs).
As per ACKO’s EV report, 49% of EV owners believe battery replacement costs are a significant part of EV ownership, and to provide a solution to this, the extended coverage safeguards the vehicle owner against unforeseen repair costs thereby instilling confidence in customers for owning an electric vehicle.
The association fosters an environment where the adoption of electric vehicles is more sustainable. It also takes a step toward setting new standards in the overall performance and innovation, and a heightened sense of financial security, ACKO said.
The plan is available with the VIDA V1, the first EV launched under the emerging mobility brand VIDA, from the house of Hero MotoCorp, world’s largest manufacturer of motorcycles and scooters.
The plan covers the vehicle for the fourth and fifth year and up to 60,000 km. The plan helps eliminate customer concerns around the battery life and performance, paving the path toward better EV acceptance, the insurer said.
The association also aligns with the Battery Waste Management Rules (BWMR), ensuring responsible disposal of used batteries.
