The FAME-II subsidy is going to see a significant cutback from tomorrow (June 1), which would force most EV two-wheeler manufacturers to revise their prices soon. Amidst this, Hero Electric, one of India’s oldest EV players has announced that it won't be doing so.
Why Hero Electric won’t be hiking its prices
Hero Electric was one of the manufacturers that was under scrutiny for misappropriation of the FAME-II subsidy a few months ago. Following an investigation, MHI revoked the subsidy for Hero Electric and Okinawa, which meant that both companies have already revised their prices back then. To read more about this matter, you can click here.
Since the FAME-II subsidy for both these manufacturers was revoked, their sales are amongst the lowest every month among the top seven EV manufacturers. Click here to read more about that.
Matter has pre-emptively revised the prices of its upcoming Aera e-bike, and in the coming weeks, we expect more EV manufacturers to hop on that bandwagon.
Azaman Chothia
Vishal Venugopal
