Baxi Taxi partners with Bajaj Finance for Commercial Bike loans
Modified On Oct 15, 2016 12:00 AM By Team Bikedekho
- 1970 Views
- Write a comment
India’s first on-demand bike taxi company will be adding at least 10,000 new bikes to their fleet this year for their next stage of growth
BC Technologies Pvt. Ltd. Is India’s first on-demand bike taxi company operating under the “Baxi” brand. The mode of operation is similar to Ola or Uber with the difference being the mode of transport. The USP of Baxi is reduced time as astride a bike you will be able to reach your destination faster courtesy a bike's ability to weave through traffic quicker. It is also more affordable. Rest assured of the safety front as with the ride, you get a helmet to wear and all Baxi riders undergo extensive training on defensive riding and are also certified by the police.
As their next stage of growth, BC technologies have partnered with Bajaj Finance. This agreement will allow BC technologies to procure bike loans at an attractive rate of interest and lower EMI's. This in effect will allow anyone earning more than Rs 10,000 per month to own a commercial bike, on easier terms compared to that of a regular private bike, with the option to ride share on their way to and from work and earn an extra income.
Ashutosh Johri, the co-founder of Baxi Taxi industry, first came across this concept in Africa, where the city of Lagos in Nigeria has more than 10 lakh Okadas, the local bike taxis, and the Bajaj Boxer and Platina are the highest selling models. Basically, almost every bike sold in there is registered by paying a nominal fee for the commercial permit, allowing the owner to earn an extra income during their commute.
This idea might work in India where people who can not afford to buy a two wheeler because of the high upfront payments, can now own a bike and also earn their EMI and cost of petrol.
Baxi has crossed more than half a million bike taxi rides in its 10 months of operations with a registered customer base of more than a lakh, and currently does nearly 3000 rides per day in Gurugram and Faridabad. They will be expanding aggressively across Haryana in the coming months.
