Revised FAME II scheme: Electric two-wheelers more affordable now

Recently, the electric two-wheelers subsidy in India was substantially increased, and now, the Delhi government has offered more relief on the overall cost of electric two-wheelers by further increasing the subsidy.

The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles policy, also known as FAME II, was recently revised, leading to a substantial increase in electric two-wheelers subsidy in India. The criteria to receive the subsidy is quite stringent – the electric scooter/motorcycle should be capable of achieving a minimum top speed of 40km/hr and should offer a minimum full-charge range of 80km.

Recently, we reported that Ather 450 Plus and 450X received a substantial price cut, owing to the revised subsidy policy, and now, other electric two-wheelers in India have also joined the bandwagon.

Revolt RV400

Before the price revision, the Revolt RV400 retailed for Rs 1.19 lakh (ex-showroom) in six cities of India – Delhi, Mumbai, Pune, Chennai, Ahmedabad, and Hyderabad. The increased subsidy has made the RV400 more affordable by a substantial Rs 12,000. In five out of the six cities where Revolt Motor is present, the RV400 is sold at a price of Rs 1.07 lakh (ex-showroom). For Revolt customers in Delhi, Revolt RV400 is priced at Rs 90,799 (ex-showroom), as the motorcycle gets added incentives from the Delhi government.

TVS iQube

The TVS iQube now gets an (on-road) starting price tag of Rs 1.10 lakh, after a Rs 33,750 subsidy under the FAME II policy. These prices are effective in three cities – Coimbatore, Chennai, and Bengaluru. The TVS iQube gets an additional subsidy of Rs 11,250 from the government, which brings its on-road price down to Rs 1 lakh in Delhi. TVS has also announced that the company plans on starting sales operation in 20 more cities of India by the first quarter of the 2022 calendar year.

Okinawa Electric Scooters

Okinawa iPraise+, which retailed for Rs 1.17 lakh, has seen a price cut of Rs 17,892. Okinawa’s flagship model, the iPraise+ now retails for Rs 99,708 (ex-showroom). The Okinawa Praise Pro is priced at Rs 76,848 (ex-showroom), after a Rs 7,947 subsidy. The entry-level model in Okinawa’s high-speed scooter is the Ridge+, which saw a price cut of Rs 7,209. The ex-showroom cost for Ridge+ is marked at Rs 61,791. Okinawa also plans on investing Rs 150 Crore for a new manufacturing facility in Rajasthan, near the company's existing plant in the same state.

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