Hero Lectro, the e-cycles subsidiary of Hero Cycles, will slash prices of its five products by up to Rs 15,000 in Delhi.
The decision comes after the state government announced subsidies and tax benefits for e-cycle models under its EV policy.
The company said that it will administer a Rs 7,500 price cut on its eligible variants (C6, C8i, F6i and C5) across models. The said variants will now be available at an on-road price range of Rs 23,499 to Rs 47,499. Besides, there will be a price reduction of Rs, 15,000 on the Hero Lectro Cargo Winn, which will now cost Rs 34,999 on-road, effectively.
Aditya Munjal, Director, Hero Cycles said, “The subsidy support will make e-cycles more affordable and accessible to a larger segment of society. While most of the models that are covered under the subsidy are primarily used for commute, fitness and micro-mobility needs, the price reduction in the cargo e-bike variant will make the Hero Lectro Winn the most cost-competitive, sustainable option in the hyperlocal delivery ecosystem.”
Munjal is of the opinion that this will give “a boost to the economic activity and new sources of income being created. The incentive is expected to boost the adoption of e-cycles, a sustainable and green mobility option in the national capital. ”