NEW DELHI: Days after the government increased incentive on electric two-wheelers (e2W) by 50%, electric vehicle manufacturers have started revising their price list. Okinawa Autotech, India’s second largest e2W player, cut prices of its products by Rs 7,200-17,800.
Okinawa’s Iprase+ will now cost Rs 99,708, down from Rs 1,17,600. There is also a price reduction of Rs 7,947 and Rs 7,209 on the Praise Pro and Ridge+ model, respectively. Similarly, Hero MotorCorp-backed Ather Energy said its scooters will now become affordable by Rs 14,500 after the FAME II subsidy revision. According to the company’s website, Ather 450 Plus is now sold at Rs 1,25,490 in Bengaluru while its price in Delhi stands at Rs 1,13,416. The difference is due to additional subsidy given by Delhi government.
TVS Motor also declared a reduction of Rs 11,250 for its only fully electric model, the iQube, which is now retailed at Rs 1,00,777 in New Delhi. In Bengaluru, it is priced at Rs 1,10,506 as against the previous price of Rs 1,21,756.
Greaves Cotton-owned Ampere Vehicles reduced the prices of its model Ampere Magnus to Rs 65,990 in New Delhi, from Rs 74,990 earlier. The Ampere Zeal model is now sold at Rs 59,990, down from Rs 68,990.
EV makers expect price cuts to boost demand as price gap between petrol engine-powered 2Ws and battery-powered 2Ws is nil now. “Lowering prices will help persuade more riders to switch from a combustion-engined model to an electric one,” said Jeetender Sharma, founder and MD, Okinawa.