The price drop comes close on the heels of the government raising incentives on electric two-wheelers.
The latest changes to the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II scheme (FAME India Phase II) see the cap on incentives for electric two-wheelers raised from 20 per cent to 40 per cent of the cost of the vehicle, while demand incentive has been raised to Rs 15,000 per kWh from the previous Rs 10,000 per kWh. The result is greater subsidies on electric two-wheelers, with the savings being transferred to customers by way of lower prices.
Aether Energy’s two models have seen the greatest price drop of Rs 14,500, with the 450 Plus now retailing at Rs 1.25 lakh and the 450X priced at Rs 1.44 lakh. The TVS iQube is now priced at Rs 1,00,777, which is about Rs 11,250 less than before, while the entire Okinawa Autotech range comprising the iPraise+, Praise Pro and Ridge+ have all seen price drops ranging from Rs 7,000 to Rs 18,000. Ampere Vehicles have also reduced the price of their two electric models that qualify for the new demand incentives. The Ampere Magnus is now available at Rs 65,990 in New Delhi, down from Rs 74,990 earlier. The Ampere Zeal is now priced at Rs 59,990, down from Rs 68,990.