Shock: Electric scooters of all companies will be expensive from June 1, know how much Ola and Ather have increased the prices
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Shock: Electric scooters of all companies will be expensive from June 1, know how much Ola and Ather have increased the prices.The era of cheap electric scooters seems to be coming to an end in the country. If you too were thinking of buying an electric (EV) scooter or bike at the same price as a petrol scooter, then forget it. From June 1, all electric scooters sold in India will become expensive. We are saying this because the subsidy (FAME 2) provided by the central government to electric two-wheelers registered on or after June 1 has been reduced. Due to which companies will not be able to give as much benefit to the customers as before.
What is the matter?
Shock: Electric scooters of all companies will be expensive from June 1, know how much Ola and Ather have increased the prices. Last week, the Ministry of Heavy Industries, Government of India has issued a new notification. Under this, the subsidy for electric scooters is being reduced from June 1 under the FAME-II (Faster Adoption of Manufacturing Electric and Hybrid Vehicles in India) scheme supported by the ministry. This means that once the change comes into effect, the maximum subsidy for two-wheeler EVs will come down to 15% from the existing 40% of the value of the vehicle. On the other hand, the subsidy will be Rs 10,000 per kWh of battery capacity of the EV instead of the current Rs 15,000. Under the current rule, this subsidy used to sit up to Rs 60,000 per vehicle on making an EV. But now it will be reduced to Rs 22,500 per vehicle.
What is FAME-II?
The scheme came into force on April 1, 2019 for a period of 3 years, and has now been extended for another 2 years till March 31, 2024. Under Phase 2, the total outlay for providing incentives to EV buyers is ₹10,000 crore.
Ola’s electric scooters costlier by Rs 15,000
EV maker Ola Electric has increased the prices of its S1 range in the Indian market. Ola currently has three electric scooters – Ola S1, S1 Pro and S1 Air. Ola Electric has increased the price of Ola S1 from Rs 1,14,999 to Rs 1,29,999. At the same time, S1 Air has now increased from Rs 84,999 to Rs 99,999. The most premium model of the lineup, the S1 Pro, has been priced from Rs 1,24,999 to Rs 1,39,999. All prices are ex-showroom, including the revised Fame-II subsidy.Shock: Electric scooters of all companies will be expensive from June 1, know how much Ola and Ather have increased the prices.
Ather also increased the prices
Ather Energy also recently reportedly announced a price hike of Rs 32,500 for its 450X electric scooter. The increased price is to be implemented from tomorrow, June 1. No other electric two-wheeler manufacturer has announced a price hike as of now, but since the subsidy will be impacting everyone, expect a flurry of announcements soon.
Shock: Electric scooters of all companies will be expensive from June 1, know how much Ola and Ather have increased the prices.
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