Electric Bikes And Scooters To Soon Get Price Hikes In India

Electric Bikes And Scooters To Soon Get Price Hikes In India

News by Team Drivio | 22 May 2023

The hike will be the result of the revision in the FAME II subsidies. 

  • The most premium scooters will be affected by this the most. 
  • This includes the likes of the Ather 450X, Ola S1 Pro, TVS iQube and a lot more. 
  • Customers will get Rs 5,000 worth subsidies less per kWh now. 

As state subsidies are to be cut, the cost of electric two-wheelers is expected to increase. The FAME II (Faster Adoption and Manufacturing of Electric Vehicles) subsidies for electric two-wheelers have been reduced by the central government, which has caused a sharp increase in the cost of EV two-wheelers.

Up to this point, the subsidy was either Rs 15,000 per kilowatt-hour or a ceiling of 40 percent of the vehicle's ex-factory price. According to the new subsidy, the lower of Rs 10,000 per kWh or a maximum cap of 15% off the ex-factory price will apply. Check out the leading EV two-wheelers' current and previous battery capacity-based incentives below:

Electric Bike / Scooter ModelPriceOld Subsidy AmountNew Subsidy Amount
Ather 450XRs 98,079Rs 55,000Rs 37,000
Ola S1 ProRs 1,24,999Rs 59,550Rs 40,000
TVS iQube SRs 1,20,890Rs 51,000Rs 30,400
Tork KratosRs 1,58,374Rs 60,000Rs 40,000
Bajaj ChetakRs 1,25,965Rs 43,500Rs 28,800

Although the new cap of 15%, which has been decreased from 40% (from the vehicle's ex-factory price), would make EVs even more expensive, as was previously noted, this is only an indication of the battery-capacity-based incentive. 

For instance, the Ola S1 Pro will cost about Rs 1,60,017 after Fame II, compared to its current price of Rs 1,24,999, a difference of Rs 35,000. The true prices, which will be significantly more than the current prices, will be made known to us soon.