Rising Prices of Ola, Ather, and Other Electric Scooters in India: Here’s the Reason

Rising Prices of Ola, Ather, and Other Electric Scooters in India - Here's the Reason - EV Tech News India - Tech Updates - Subsidy - Before You Take
Facebook
Twitter
LinkedIn
WhatsApp
Telegram
ADVERTISEMENT

 

If you’re considering purchasing an electric scooter in India, it’s important to be aware that the prices of popular brands such as Ola, Ather, and others are expected to increase in the near future. This development is a result of potential changes to the subsidy program known as the Faster Adoption and Manufacturing of Electric Vehicles Phase II (FAME-II).

 

The Ministry of Heavy Industries, which oversees the FAME-II scheme, is considering boosting the budget allocated for e-two-wheelers. However, at this point, there are no plans to extend the FAME-II scheme beyond March 2024 or introduce FAME-III, according to reports.

 

Understanding the FAME-II Subsidy Program

The FAME-II subsidy program was launched by the Indian government to accelerate the adoption and manufacturing of electric vehicles in the country. It provides incentives to electric vehicle buyers in the form of a price reduction. Under this scheme, the subsidy amount is determined based on either 40% of the ex-showroom price or Rs 15,000 per kWh of battery capacity.

 

Proposed Changes and Stakeholders’ Meeting

Following consultations with 24 electric two-wheeler original equipment manufacturers (OEMs) registered under the FAME-II scheme, a stakeholders’ meeting was held recently to discuss potential modifications to the subsidy program.

 

During the meeting, it was decided that the demand incentive would remain at Rs 10,000 per kWh of battery capacity, but with a cap of 15% of the ex-factory price, instead of the current 40%. This proposed change aims to strike a balance between promoting the adoption of electric two-wheelers and managing the budget for subsidies effectively.

 

Proposal Presentation and Potential Impact

According to an official, there is a plan to present a proposal to the Programme Implementation and Steering Committee (PISC) to make modifications to the FAME-II scheme in the near future. If approved, these changes could have an impact on the prices of electric scooters in India, potentially leading to an increase as the subsidy amount per vehicle decreases.

 

Stay Informed and Make Informed Decisions

As a potential buyer, it’s important to stay updated on any developments regarding the FAME-II subsidy program and its modifications. These changes could have implications for the prices and incentives associated with electric scooters in India.

 

While the government aims to promote the adoption of electric vehicles, it also needs to manage the subsidy budget effectively. Therefore, it is advisable to make purchase decisions considering the potential changes in subsidies and their impact on electric scooter prices.

We will be happy to hear your thoughts

Leave a reply

Also, Read

ADVERTISEMENT

Latest News

ADVERTISEMENT
Deal of the Day
ADVERTISEMENT

Related or Latest Posts

ADVERTISEMENT
Deal of the Day
ADVERTISEMENT

Mobiles | Tablets

ADVERTISEMENT

Laptops | Desktops | Monitors

ADVERTISEMENT

Smartwatches | Smart Rings | TWS Earbuds

ADVERTISEMENT

Latest Electric Vehicles News

ADVERTISEMENT

Televisions | TV Sticks | Projectors

ADVERTISEMENT

Speakers | Soundbars | Headphones | keyboards | Mouse

ADVERTISEMENT

Power Banks | Wireless Chargers | Trimmer

ADVERTISEMENT

Air Fryers | Electric Kettles & Heaters | Vacuum Cleaners

ADVERTISEMENT

Refrigerators | Microwave Ovens | Water Purifier

ADVERTISEMENT

Cameras | Drones

ADVERTISEMENT

IT Industry | Business News

ADVERTISEMENT

Latest Space News & Updates

ADVERTISEMENT

Latest OTT Releases

ADVERTISEMENT

New Launches | Informative News | Software Updates

ADVERTISEMENT