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- Electric Two Wheeler Increase Subsidies Under FAME II Policy Up To Rs. 28000
New Delhi13 minutes ago
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The government has reduced the GST on electric two-wheelers under the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme. After this their price has come down to 28 thousand. Earlier the GST rate on electric vehicles was 12 percent, which has now been reduced to 5 percent. Amidst the rising prices of petrol, the interest of people to buy electric vehicles may increase due to them becoming cheaper.
The FAME II scheme has been amended by the government, after which the prices of electric two-wheelers have come down significantly. Earlier, a subsidy of Rs 10,000 per kWh was available on electric two-wheelers, but now it has been increased to Rs 15,000 per kWh. According to Hero Electric Two-Wheeler Company, it has reduced prices by up to 12% on its single-battery variant electric two-wheelers and 33% on triple-battery models.
New Hero Electric prices after GST rate cut
|model||old price||new price||% (Change)|
|Hero Photon HX||Rs 79,940||Rs 71,449||12%|
|Hero Optima ER (Double Battery)||Rs 78,640||Rs 58,980||33%|
|Hero NYX HX (Triple Battery)||Rs 1,13,115||Rs 85,136||33%|
These electric two-wheelers also became cheap
|TVS iCube||1.02 to 1.14 lakh||Rs 11,250|
|Okinawa iPraise+||1.09 lakh||Rs 7,200 to Rs 17,900|
|Revolt RV 400||Rs 90,799||28,200 rupees|
Naveen Munjan called it an important step
Hero Electric Two-Wheeler Company Managing Director Naveen Munjal had said that the increase in subsidy under FAME II will help boost the demand for electric vehicles in the country. Electric vehicle industry is the most important step in the last decade. The increase in subsidy under FAME II will usher in a new era of electric mobility in the country. An increase in the subsidy limit will be a dice-turner. With the price of petrol reaching Rs 100 per liter, people will show interest in buying electric scooters.