TVS iQube, Ola S1, and Ather 450X electric scooters are now more expensive
The revision in the FAME-II scheme came into effect from 1 June, is having considerable repercussions on the prices of the electric two-wheelers in India. The government has curtailed the incentive for EVs from Rs 15,000/kWh to Rs 10,000/kWh. It has also put up a cap of 15 per cent of the ex-factory price of the electric two-wheelers; it was previously 40 per cent.
TVS iQube New Prices:As a result, TVS, one of the EV manufactures in India, has announced that it will increase prices of the iQube e-scooter between the range of Rs 17,000 and Rs 22,000 depending on the variant. Notably, Ola and Ather Energy have also hiked the prices of their electric scooters. In a statement released by TVS, the bike maker said that it has revealed the new prices for the TVS iQube without passing on the full burden of FAME-II revision to customers.
The customers who have made the bookings for the iQube electric scooter until May 2023 will be eligible for a loyalty benefit programme. This will be a limited period offer provided to ease the burden of the revision in the FAME-II subsidy. On top of that, prospective buyers of the e-scooter can also benefit from the new prices without bearing the full burden of FAME II revision upon booking the iQube on 1 June, 2023 onwards.
Ather 450X New Prices:Ather Energy has also hiked the prices of the 450X line-up in India because of the reduced FAME-II subsidy. Since the revised incentive is available at Rs 10,000/kWh, this has resulted in a subsidy deduction of around Rs 32,000. Like TVS, Ather has not passed the full burden of the FAME-II revisions to its customers. More to the point, the 450X now costs Rs 1.45 lakh (ex-showroom, Bangalore), while the 450X Pro Pack is priced at Rs 1.65 lakh (ex-showroom Bangalore).
Ola S1 and S1 Pro New Prices:
Ola recently increased prices of the S1 and S1 Pro electric scooters. Both e-scooters have received a price hike of Rs 15,000. With the new reduced FAME-II subsidy capped at 15 per cent from 1 June, the S1 and S1 Pro now cost Rs 1,29,999 and Rs 1,39,999 (ex-showroom), respectively. While the S1 used to be available at Rs 1.15 lakh, the S1 Pro was offered at Rs 1.25 lakh (both ex-showroom). The most affordable scooter in the brand's portfolio, the S1 Air, is priced at Rs 1,09,999 (ex-showroom).