India’s Ministry of Heavy Industries is reportedly planning to reduce subsidies for electric vehicles (EVs) from Ola, Ather, Hero, Okinawa, Simple One, and TVS starting on June 1, 2023. This move is expected to result in an increase in the prices of EV two-wheelers from these companies. Over the past few years, the demand for electric scooters has increased significantly due to the subsidies offered. Ola and Ather are two of the most popular brands in India, but their prices are expected to rise soon. Here’s everything you need to know about the impact of reduced subsidies on the prices of electric scooters.
Key points:
– From June 1, 2023, the subsidies for EV two-wheelers will be reduced from the current 40% to 15% of the ex-factory price.
– The decision to reduce the subsidies comes at a time when the sales of EV two-wheelers are declining month-on-month.
– The Indian government had allocated INR 10,000 crore for the FAME 2 scheme to provide subsidies for EVs.
– The Ministry of Heavy Industries had increased the subsidy amount from INR 10,000 to INR 15,000 per kWh to boost the demand for EVs.
– After the reduction in subsidies, the prices of Ola S1 Air, S1, and S1 Pro are expected to increase by INR 30,000-35,000.
– The price of Ather 450X is expected to increase by INR 25,000-35,000.
The reduction in subsidies is expected to impact the prices of EV two-wheelers significantly. If you plan to buy an electric scooter in the coming months, it’s important to keep this in mind. The prices of Ola, Ather, Bajaj, and TVS electric scooters currently receive a subsidy of 40%. However, after the reduction in subsidies, the prices of these scooters are expected to increase by INR 25,000-35,000. This means that the Ola S1 Air, which currently costs INR 84,999, could cost over INR 1 lakh after the price hike.
Similarly, the price of Ather 450X, which currently costs INR 98,079, is expected to increase by INR 25,000-35,000. With the reduction in subsidies, the price of this scooter could be around INR 1.30 lakh.
In conclusion, the reduction in subsidies for EV two-wheelers is expected to result in a significant increase in prices. If you plan to buy an electric scooter in the near future, you should factor in the potential price hike due to the reduction in subsidies.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
Something went wrong. Please refresh the page and/or try again.