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News18 » Auto
1-min read

Revolt's Easy EMI Plans for its Electric Motorcycles Are Grabbing Attention, But There's a Catch

Revolt will sell the RV300 and RV400 electric bikes only through 'My Revolt Plan' EMI scheme without any down payment.

Trending Desk

Updated:September 10, 2019, 9:49 AM IST
Revolt's Easy EMI Plans for its Electric Motorcycles Are Grabbing Attention, But There's a Catch
Revolt RV400. (Photo: Manav Sinha/News18.com)

While the auto companies are in a rush to give in their best services to the customers, Revolt Intellicorp seems to have won the race already. The company has launched two electric commuter motorcycles recently, the Revolt RV 400, and the Revolt RV 300. However, it’s not just the electric commuter motorcycles that make the company unique. To ensure that the owners pay their EMI on time, the auto company has combined the bikes with a unique retail plan dubbed as MRP (My Revolt Plan).

With an aim to make the motorcycle accessible across the socio-economic divisions, the company has made sure to sell their electric bikes only through MRP scheme without any down payment. Unlike a lease or rental plan, MRP is an EMI scheme, which includes the maintenance and consumables (tyres for example) costs. Understanding the MRP scheme is as simple as its functioning. As per the plan by Revolt Intellicorp, the EMIs for RV300, RV400 base and RV400 premium will stand at INR 2,999 and 3,499 and 3,999 respectively for a period of 37 months. If by any chance, the owner fails to pay the instalment on time, the company reserves the right to recover the vehicle as per the government regulations.

As per the government regulations, the customer or the owner will be given the first notice within a month of failure to pay the installment, which will be followed up by a second notice at a later stage. Failing to answer to both the notices will lead to impounding formalities. Revolt’s founder Rahul Sharma has made it clear that the company will try to have conversations with the customer to sort out the payment situation before deciding to impound the vehicle. As of now, electric motorcycles are available only in New Delhi and Pune. However, the company is working towards expanding its coverage to other important cities in near future.

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| Edited by: Chhavianshika Singh
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