How Aeris Asset Assurance platform helps retrieve stolen vehicles

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New Delhi: IoT technology provider Aeris said its Aeris Asset Assurance platform successfully tracked and helped to recover a stolen vehicle in less than 3 hours. Aeris Asset Assurance platform, which is a comprehensive asset protection and repossession IoT platform helped RevFin Dealer M/s Lokesh Automobiles retrieve its stolen vehicle in Bihar, India.

Aeries and RevFin joined hands in 2021 for EV projects backed with a $15 million investment. These EVs are embedded with IoT solutions powered by the Aeris Asset Assurance Platform. The IoT technology and platform focuses on helping the financial institution to able to track, lend and understand the utilisation of movable assets.

Partnership with Aeris has helped RevFin in realizing its vision to create an integrated EV lending platform with embedded IoT to help drivers in improving their income, ensure better EMI repayments, and reduce their insurance claims.

This is not the first time Aeris technology has helped vehicle owners to keep their vehicles safe. From commercial trucks and passenger vehicles to high-value personal cars, and even e-Rickshaws and cycles, Aeris AerTrak and Asset Assurance Platform have exemplified the benefits of using IoT technology in retrieving an owner’s asset before it got lost and sold in another city.

It has also helped the police arrest wanted criminals who have been absconding for a long, and, dealers, financiers and even insurance companies have benefited from the value proposition of using IoT solutions. With 100,000 cars stolen each year in India, such IoT technologies for stolen vehicle recovery have made recovering these vehicles much simpler for dealers and financiers.

“Aeris commitment to bring more affordable IoT solutions and services keeps us at the forefront of making vehicles truly connected, secure, and help promote green mobility,” said Sameer Mahapatra, VP of Sales and Country Manager, India – Aeris Communications.

“Today, we are the market leader in the IoT market for 2&3 electric vehicles segment. Our customers come from different socio-economic strata living in both cities and villages. Our B2C customers, who also come from the bottom of the pyramid, benefit by ensuring safety and security of their vehicles which for most, is the only source of livelihood!,” added Mahapatra.

“Aeris has been our trusted partner in this journey, and we are happy to share that their cutting-edge technology has assured and empowered not only our business but the business of our dealers too by making our financed vehicles connected, trackable, and providing features such as immobilisation for securing vehicles from theft,” said Sameer Aggarwal, Founder and CEO of Revfin – an EV financing company having presence across 14 states and over 559 dealerships.

According to Lokesh Kumar Jha, Proprietor and Dealer of M/s Lokesh Automobiles, usually it takes days to recover a stolen vehicle, and only if one is lucky, one would get the vehicle back after months of effort.

“We have been amazed at the speed with which our vehicle was recovered using technology from Aeris. The team has extended their full support, were constantly updating us on our vehicle’s position in real-time and stopped the vehicle remotely which led to recovery in less than 3 hours! In our experience as dealers in this area, this is the first time a stolen vehicle has been recovered in record time. We thank Revfin for having such useful partnerships,” said Jha.
On December 15, around 04.30 pm, a vehicle with chassis no: Rev_M8EY4AL21HP000847 was reported stolen by RevFin Finance Dealer M/s Lokesh Automobiles to the Aeris office. Following the report, Aeris tracked and located the vehicle successfully on its Aeris Asset Assurance Platform.

The live tracking feature showed the vehicle’s movement in the Maheshi area of Bihar which was 50 km from the dealers’ location. After the dealer was informed about the location, using the platform’s immobilisation feature, the stolen vehicle was remotely immobilised immediately. This stopped the vehicle’s movement from its current location and the dealer’s staff were able to recover the vehicle from the location within 3 hours after it was reported stolen. And then the vehicle was brought back to the showroom.

In another case, Aeris IoT solutions AerTrak technology helped retrieve a stolen electric scooter (eScooter) in Odisha, where the IoT sensors that track vehicle activity saved the day for one of the scooter’s owners. With India’s first IoT-based Connected eRickshaw solution, Aeris also successfully recovered multiple stolen eRickshaws in Delhi/NCR.

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