Players in the industry include Ola Electric, Ather Energy, Okaya EV, Oiknawa, and Matter Energy, among others, expect to raise prices by roughly 15% to 20% as a result of the FAME II subsidy cut for electric two-wheelers starting on June 1.
The FAME II subsidy cut for electric two-wheelers has been reduced by the Ministry of Heavy Industries to INR 10,000 per kWh from INR 15,000, and the maximum subsidy on the vehicle’s ex-factory price has been reduced from 40% to 15%. The ministry-established group has made further recommendations to strengthen the viability of the construction of public infrastructure for electric vehicle charging.
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FAME II subsidy cut effect on EV companies
The Ampere Zeal EX
Price The Zeal Ex, whose price rose by Rs. 20,900, is Ampere Vehicles’ most cheap electric scooter. The Ampere Zeal EX now has a new price tag of Rs. 95,900. A 2.3 kWh, 60 V Li-ion battery is included with this electric scooter. An electric motor with a 1.8 kW output is powered by this. In about 5 hours, the Zeal EX battery may be fully charged. Maximum range and speed The range of the Zeal EX is 801-00 km. The top speed that this electric scooter can travel at is between 50 and 55 km/h.
The range of the Zeal EX is 801-00 km. The top speed that this electric scooter can travel at is between 50 and 55 km/h.
TVS iQube
Prior to the laws governing the FAME II subsidy cut, the TVS iQube electric scooter received a subsidy of Rs. 51,000. TVS iQube was priced at Rs. 1.74 lakhs. Additionally, the TVS iQube S model cost Rs. 1.85 lakhs. This electric scooter has a 100-mile range. The top speed of the TVS iQube electric is 78 km per hour.
Electric scooters by Okaya
The starting price of an Okaya scooter is Rs. 74,499. There are a total of 6 scooters available from Okaya, with the Okaya Faast costing the costliest at Rs 1.14 Lakh. The names Faast F2F, Freedum, ClassIQ, Faast F2T, Faast F2B, and Faast are among the most well-known in the lineup. Get the entire selection, which is offered by 269 Okaya Scooter Dealers in 222 Indian cities.
The Okaya Faast F4 electric scooter’s purchasers previously qualified for a subsidy of $66,000, according to the EV maker. However, as a result of the FAME II subsidy cut, the revised price for the scooters was reduced to a maximum of $22,500, which had an effect on the manufacturer’s overall pricing strategy.
Electric scooters by Ola
The Ola S1 and the S1 Pro are the first electric vehicles made by the Bengaluru-based EV manufacturer. The S1 version, which sits above the S1 Air, Ola’s least expensive product, is the more cheap of the two. Additionally, the cost of the S1 and S1 Pro battery packs has been made public.
According to Ola Electric’s official website, the S1 Electric scooter will cost INR 1.30 lakh instead of INR 1.15 lakh as it did up until last month after the FAME II subsidy cut. Similarly to this, the company increased the starting price range for all scooters by IR 15,000.
