TVS Motor cuts e-scooter prices by Rs 11,250 after FAME II subsidy revision

the iQube Electric scooter will be available for Rs 1,00,777 in Delhi against the old price of Rs 1,12,027. In Bengaluru, it will be priced at Rs 1,10,506 as against the previous price of Rs 1,21,756.

By:June 16, 2021 7:37 AM

TVS Motor Company on Tuesday announced the revised pricing for its electric scooter TVS iQube Electric following the recently announced revision in subsidy under the FAME II scheme by the Central government.

The improved incentives will increase the penetration of electric two-wheelers in the country, the company said in a statement.

Accordingly, the iQube Electric scooter will be available for Rs 1,00,777 in Delhi against the old price of Rs 1,12,027. In Bengaluru, it will be priced at Rs 1,10,506 as against the previous price of Rs 1,21,756.

On the subsidy revision, Sudarshan Venu, joint MD, TVS Motor Company had said: “We welcome the government’s continued support to EVs. Sustainable mobility solutions are very important for the future and TVS is investing significantly behind this. The improved incentives for electric two-wheelers will increase penetration. Such policy direction should lead to the indigenous development of future technology.”

TVS Motor has been working on strengthening its EV portfolio in a big way.

Recently, K N Radhakrishnan, director & CEO, TVS Motor Company told an analyst call, post releasing of the Q4 FY21 results that the company will be investing heavily into the electric vehicle segment. It is planning to roll out its e-two-wheeler iQube in 20 new cities in the current fiscal. iQube was recently launched in Delhi, the second market, after Bengaluru. The company has also planned to expand the capacity and portfolio of e-2Ws.

“EV is the future technology and we are also planning to launch electric three-wheelers. Out of the total capex, we will invest around Rs 150 crore towards EV projects. We are studying the EV feedback and on the back of the plan to launch the e-2Ws in 20 more cities, we will take a call on the capacity expansion,” he had said then.

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