Ather Energy has confirmed that its 450X electric scooters will see a price hike from June 1, 2023, owing to the subsidy reduction by the central government in a recent decision. The EV manufacturer has announced on its social media platform that till the price hike is implemented, the buyers can save up to ₹32,500 till May 31. The company also said that this offer would be available till the stocks last.
The electric vehicle manufacturer has said in its social media post that customers who would buy Ather Energy's 450X electric scooter till May 31, before the FAME-II incentives reduce and prices increase, could save up to ₹32,500. Retweeting the same, Ather Energy's CEO Tarun Mehta has said that the EV industry must stand on its own feet soon instead of relying on government subsidies for support to grow. He mocked how the government announced a subsidy of ₹30,000 for the electric two-wheelers in 2019 and then doubled that to ₹60,000 in 2021, and then slashed it to ₹22,000 in 2023. Mehta said that it had been a roller coaster ride for the Indian electric two-wheeler industry. He also mentioned that the subsidy amount was bound to come down.
We live in the most roller coaster of an industry?
— Tarun Mehta (@tarunsmehta) May 21, 2023
2019 - subsidy goes ? to 30K
2021 - subsidy goes ⏫ to 60K
2023 - subsidy goes ?to 22K
What goes up, must come down.
The industry must stand on its own feet very soon. https://t.co/jH39dUGmjB
This price hike move comes as the Ministry of Heavy Industries has proposed a subsidy of 15 per cent for the electric two-wheelers, which results in an upward price revision for all the electric two-wheelers in India that used to receive the subsidy benefit so far. A total of 24 electric two-wheeler manufacturers who avail of the FAME-2 subsidy benefit met last week to discuss the strategy ahead.
Incentives for electric two-wheelers under the FAME scheme have become a major booster for the EV industry in India over the last few years. Combined with the FAME scheme incentives, the buyers in some states also enjoy the respective state EV policy benefits, which bring down the upfront cost of the electric two-wheeler significantly. No wonder, this has propelled the growth of the electric two-wheelers across the country so far. However, with the FAME-2 incentives being slashed and the EV manufacturers hiking prices of their electric two-wheelers, it is to be seen how the industry and the EV customers brace for the impact.
Disclaimer: This Article is auto-generated from the HT Auto news service
