Prices of electric two-wheelers from Ather, Bajaj, TVS, and Vida have seen a significant increase, with some models becoming more expensive by up to Rs 16,000. This price hike is a result of the new Electric Mobility Promotion Scheme (EMPS), which has reduced the maximum benefit to Rs 10,000 per vehicle. Here's a detailed breakdown of the price changes for some of the major players in the Indian electric two-wheeler market:
Ather Energy:
Ather's sporty 450 range has seen an upward price revision. The most affordable model, the 450S, has experienced the largest price hike of Rs 16,000, taking its new price to Rs 1.26 lakh. The 2.9kWh variant of the 450X sees a modest increase of Rs 3,000, with its new price being Rs 1.41 lakh. The range-topping 450X 3.7kWh variant has seen a Rs 10,000 price hike, bringing its new price to Rs 1.55 lakh.
Bajaj Auto:
Bajaj's Chetak lineup has also undergone a price revision. The Chetak Urbane now costs Rs 8,000 more, with its new price set at Rs 1.23 lakh. The premium variant of the Chetak sees a Rs 12,000 increase, with its new price being Rs 1.47 lakh.
TVS Motor Company:
The popular TVS iQube has seen only a nominal increase in price, with the base variant now costing Rs 3,000 more, bringing its new price to Rs 1.37 lakh. The price of the iQube S variant has been set at Rs 1.46 lakh, but we are awaiting confirmation on its previous price for comparison.
Vida (Hero MotoCorp's EV Subsidiary):
Vida has revised the prices of both its offerings. The V1 Plus now costs Rs 5,000 more, with its new price being Rs 1.20 lakh. The V1 Pro sees a smaller increase of Rs 4,000, bringing its new price to Rs 1.50 lakh.
Ola Electric:
Interestingly, Ola Electric has not increased the prices of its S1 range of electric scooters. The company has extended the current prices until April 15, possibly due to its upcoming public offering. We will provide updates on Ola's pricing strategy as more information becomes available.
With the new EMPS in effect, electric two-wheeler manufacturers are adjusting their pricing strategies to stay competitive in the market. While some price hikes are modest, others are more substantial, impacting the overall affordability of electric vehicles in India.