Electric two-wheelers get more discounts and more affordable after the government updates the FAME II policy to promote EV adoption.
- Central government updates FAME II policy; makes electric two-wheelers more affordable
- According to new FAME II policy subsidy has been increased by 50 percent to its predecessor
- Bengaluru based start-up Ather energy acted upon the new policy and cut down their prices by Rs 14,500
Electric Two-wheelers manufacturer in India has been rejoicing the new amendments in the FAME II policy. According, to the new policy the subsidy for the electric two-wheelers has been increased significantly, which further benefits the buyers and the manufactures. With this new policy, it should help more buyers to go EV two-wheelers rather than IC-powered ones. Although, talking about the previous FAME II amendment the previous subsidy amounted to Rs 10,000 Per KWh, and with the new one, the subsidy has been increased amounting to Rs 15,000 per KWh, increased by 50 percent.
With new FAME II updates, it will help in the prices of currently available two-wheelers in India cut by 40 percent of total costs. Thanks to the greater subsidy electric vehicle adoption in India will boasts and promote EV mobility on Indian roads. However, it should also be noted that the current prices of available EV in India are pieced very high in comparison with IC-powered ones, and this will help in levelling the price band to a competitive level, which is a great initiative by the Indian government to promote electric vehicle among the young buyers and daily commute customers. Bengaluru based star-up Ather energy is already acted upon the new policy
As it cut down its prices of Ather 450X and Ather 450 plus by almost Rs 14,500. The former now priced at Rs 1,44,500 and the latter priced at Rs 1,25,490 ex-showroom, Bengaluru. As for the future, the electric two-wheeler space will be seeing a lot of near products in the coming months from mainstream brands like Hero MotoCorp, Bajaj, TVS, and new start-ups like Ather energy. In fact, Ola electric is currently developing the world’s largest two-wheeler factory in the world, claiming to produce 1 lakh units. The New amendments of the FAME II scheme will also be benefitting three-wheeler and electric buses also in the future.