New ownership models for Bounce, ONN Bikes post-Covid

As lockdowns ease, personal, sanitised mobility will trump shared, compromised options. But with subscriptions, long-term rentals and lease-to-own models, mobility companies will have to stretch their DNA—from pure tech platforms to pseudo-digital dealerships

Covid-19 brought mobility to a complete stop. Asset-heavy, ride-sharing companies have to re-think their growth plans

Bounce, ONN Bikes have launched long-term rentals and lease-to-own models for new and used two-wheelers. They want to double down on new ownership trends

Facing an economic slowdown, low EMIs, flexible leases could attract new buyers or renters and alternative financing models may emerge

Part dealer, part platform—mobility companies are staring at a confused path to re-ignite their business

A pandemic is the perfect time for a reset. At least Vivekananda Hallekere, the co-founder of Bounce, thinks so.

Two months ago, the dockless scooter sharing platform was clocking 100,000 rides a day in its hometown of Bengaluru. According to an internal forecast, the company was on track to cross a million rides a day this year in the city. A new electric scooter fleet was also in the offing.

Covid-19 rammed the brakes on these ambitions. Not just for Bounce, but all mobility platforms. As the sector came to a near-complete halt for at least two months during India’s lockdown, vehicles idled away in expensive parking lots.

AUTHOR

Olina Banerji

Based in Delhi, Olina writes about mega-trends in urban mobility, education, skilling and the environment, with a focus on how institutions and innovations can help cities grow sustainably. She is a graduate of the London School of Economics, and has worked previously with India Today and global non-profit Ashoka.

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