Last week, the Ministry of Heavy Industries announced incentives for some categories of electric vehicles by making amendments to the FAME II scheme. The most relevant of them is the increase in incentives for electric two-wheelers from the previous Rs 10,000/ kWh to Rs 15,000/ kWh with a cap of 40 percent of the cost of the vehicle. This has led to substantial price cuts for existing electric two-wheelers in the market. Several manufacturers including TVS Motor Company have announced price reductions on their electric two-wheeler offerings.
With the revisions in the FAME II scheme, the price of the Ather 450X electric scooter will be reduced by Rs 14,500. The 450X used to retail at a price of Rs 1,46,926 in Delhi, which includes the previous subsidies along with Ather Dot/Portable charger and also performance upgrades.
Now, with the aforementioned price cut due to increased subsidy on electric two-wheelers, the price of the said EV will be down to Rs 1,32,426 lakh in the national capital. Similarly, the scooter will now cost Rs 1,44,500 in Bengaluru compared to its previous price of Rs 1,59,000.
The price of TVS’ only electric offering has been lowered substantially by over Rs 11,000. While the price tag on the iQube Electric stood at Rs 1,12,027 in New Delhi, it has now been lowered to Rs 1,00,777. Similarly, the older price tag of Rs 1,21,756 in Bengaluru has been slashed down to Rs 1,10,506.
The prices have been slashed in the range of Rs 7,000 to close to Rs 18,000 with effect from 11th June 2021. Going into model-wise details, the Okinawa iPraise+ is now available at the showrooms for Rs 99,708 and hence, sees a reduction of Rs 17,892 in its price.
Similarly, the Okinawa Praise Pro is now available at the dealerships at Rs 76,848 and hence, this particular model is now cheaper by Rs 7,947. Last but certainly not least, the Okinawa Ridge+ gets more affordable by Rs 7,209 and hence, is now retailing at a reduced price of Rs 61,791.
The company has announced that it has now revised the price of the RV400 to Rs 90,799 (ex-showroom). That said, the price has been slashed by about Rs 28,000. The Revolt RV400 now costs equivalent to bikes like Bajaj Pulsar NS125. Very recently, Revolt Intellicorp announced that bookings for the RV400 will reopen on 18 June at 12 pm on its official website. The company says that it will reopen the bookings for the RV400 in six cities, namely Delhi, Mumbai, Pune, Chennai, Ahmedabad and Hyderabad.
The Magnus that was earlier available at Rs 74,990 is now priced at Rs 65,990. At the same time, the Ampere Zeal electric scooter price in India has now dropped from the previous Rs 68,990 to Rs 59,990. The price difference between the previous and now is Rs 9,000.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.