The government of India has revised the FAME II subsidy for electric two-wheelers. The new subsidy sees an increase of 50% over the previous subsidy which amounts to Rs 15,000 per kWh. For electric two-wheelers, the cap on the subsidy will be 40% of its total cost. To be eligible for the revised Fame II subsidy, an electric two-wheeler needs to have a minimum range of 80km and a minimum top speed of 40 km/h.
Also, the maximum retail price of the EV should not be more than Rs 1.50 lakhs ex-showroom to gain the subsidy benefits. This comes as a welcome move for the electric scooter industry which will pave its way in capturing a larger market.
The increased affordability will mean a higher adoption rate among the masses which makes the case of an electric two-wheeler stronger than its petrol-powered alternatives. Electric two-wheeler manufacturers have welcomed this move with some stating it as a ‘game changer’ for the industry. The revised prices for some of the popular electric two-wheelers are as follows:
The price of the Ather 450x has been cut by Rs 14,500. The electric scooter previously retailed at Rs 1,46,926 ex-showroom Delhi. With the subsidy in place, the ATHER 450x will now retail at Rs 1,32,426 ex-showroom Delhi.
The only two-wheeler offered by the brand sees a price reduction of over Rs11,000. Previously offered at Rs 1,12,027 ex- showroom Delhi, the scooter now retails for Rs 1,00,777.
Okinawa iPraise+, Praise Pro, Ridge+
The electric range offered by Okinawa sees a significant price slash. The iPraise+ sees a price cut of Rs 17,892 which results in a price of Rs 99,708. The Praise Pro is priced at Rs 76,848 which makes it cheaper by Rs 7,947. Finally, the Ridge+ is priced at Rs 61,791 making it cheaper by Rs 7,947.
The flagship two-wheeler offered by Revolt sees a massive price reduction of Rs 28,000. This means that the electric bike is now priced at a very competitive Rs 90,799 making it cheaper than many 125cc petrol bikes out there.