TVS has just announced revised prices for its electric scooter, the iQube.
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FAME II subsidy results in a drastic reduction
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It now costs Rs 11,250 less than before
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The on-road price in Delhi is Rs 1 lakh
A few days ago, a new amendment increased the FAME II (Faster Adoption and Manufacturing of Electric Vehicles in India) subsidy on electric two-wheelers by 50 percent to Rs 15,000 per kWh. This has resulted in significant price reductions of electric two-wheelers. For reference, the Ather 450X electric scooter sees its price decrease by Rs 14,500, as a result of this amendment. However, the Bajaj Chetak will not witness a price drop because it hasn't received FAME II approval.
TVS has revealed that its electric scooter, the iQube now costs Rs 11,250 less thanks to the subsidy. What this means is that the iQube on-road price in Delhi has gone down to Rs 1 lakh, while the on-road Bengaluru price is now Rs 1.10 lakh. Electric scooters are significantly cheaper in Delhi because they also received an additional state subsidy in that region.
The company also recently announced that the TVS iQube will be available in over 20 cities in India by March next year. TVS has also signed an MoU with Convergence Energy Services to set up public charging infrastructure across the country.
Vishal Venugopal
Ved Janve
Azaman Chothia
