New Delhi
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 Model | Price | Old Subsidy Amount | New Subsidy Amount |
|---|---|---|---|
| Ather 450X | Rs 98,079 | Rs 55,000 | Rs 37,000 |
| Ola S1 Pro | Rs 1,24,999 | Rs 59,550 | Rs 40,000 |
| TVS iQube S | Rs 1,20,890 | Rs 51,000 | Rs 30,400 |
| Tork Kratos | Rs 1,58,374 | Rs 60,000 | Rs 40,000 |
| Bajaj Chetak | Rs 1,25,965 | Rs 43,500 | Rs 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.
