ACKO Introduces Battery Insurance Plan for Electric Vehicles

There is 223% growth in EV sales in 2022, India's EV market is expected to expand at a 44.5% CAGR between the year 2020 and 2025.

April 17, 2023. By EI News Network

The distinctive policy protects battery life for up to four or five years and gives performance coverage for up to 60,000 km.

There is 223% growth in EV sales in 2022, India's EV market is anticipated to rise at a 44.5 percent CAGR between the year 2020 and 2025.

Private insurer firm ACKO General Insurance introduced 'Extended Battery Warranty' plan specifically for electric vehicle owners.

The policy safeguards battery life for up to four or five years and provides performance coverage for up to 60,000 km.

In addition to, the all-inclusive plan involves EV components alongside the battery and is transferable to a new owner in the event of a sale, boosting resale value.

Progressed in partnership with Ola Electric and Ather Energy, the insurance plan is portion of ACKO’s broader scheme to set up an EV infrastructure by associating original equipment manufacturers and facilitating all-inclusive insurance plans to consumers and clients.

ACKO plans to continue discompose the EV space by launching innovative products and looking for partnerships with other OEMs to avail all-inclusive coverage for EVs.

Tags:

Business

ACKO General Insurance

CAGR

Electric vehicles owners

Extended Battery Warranty

Electric vehicles components

OEM

Policy

EV market