Electric two-wheeler prices slashed post recent FAME-II subsidy revision
Just last week, the department of heavy industries announced a revision of subsidies under the FAME II (Faster Adoption and Manufacturing of Electric Vehicles in India) policy in an effort to boost electric vehicle sales in the country. The most notable alterations here being that the subsidy rate has gone up from Rs 10,000/kWh to Rs 15,000/kWh, with a cap of 40 per cent of the cost of the electric vehicle.
The fact that the electric two-wheelers have to meet the FAME-II scheme's criteria to benefit from the revised subsidies, will mean that not all makes and models currently out in the market actually will, so there will be some e-scooters and e-bikes that remain unaffected by the revision. However, a good takeaway here is that this will push these same manufacturers to step up and better their respective offerings. What's more is that the more expensive electric two wheelers that comprise higher quality components will become more affordable, meaning better quality vehicles will become all the more accessible to the masses.
Here are some of the electric two-wheelers whose cost have substantially reduced following the recent FAME-II subsidy revision in India. All prices indicated are ex-showroom.
|Ather Model||Earlier Cost||Cost Now||Reduction|
|Ather 450X||Rs 1,59,000||Rs 1,44,500||Rs 14,500|
|Ather Plus||Rs 1,39,990||Rs 1,25,490||Rs 14,500|
|Okinawa Model||Earlier Cost||Cost Now||Reduction|
|iPraise+||Rs 1,17,600||Rs 99,708||Rs 17,892|
|Praise Pro||Rs 84,795||Rs 76,848||Rs 7,947|
|Ridge+||Rs 69,000||Rs 61,791||Rs 7,209|
|Revolt Model||Earlier Cost||Cost Now||Reduction|
|RV400||Rs 1,18,999||Rs 90,799||Rs 28,200|
TVS Motor Company
|TVS Model||Earlier Cost||Cost Now||Reduction|
|iQube||Rs 1,12,027||Rs 1,00,777||Rs 11,250|
Seeing the revised prices of electric powered two-wheelers now nearer to ICE (Internal Combustion Engine) vehicles you must be wondering as to whether all this EV subsidy business actually makes a difference for the better and if it makes sense to go electric right now. Well, if in fact you are, you can run this simple test to get your answer. First, head over to the petrol pump and check out the current price for a liter of fuel. Then, get home and check out the cost per-unit in your last electricity bill. Finally, compare the range-to-running cost of an ICE and battery powered vehicles. You're welcome.
Watch this space for more updates on prices on EVs from various manufacturers in relation to the revised FAME-II subsidy.