TVS IQube sole electric scooter from the brand prices drop after, few updates in the FAME II policy by the Indian government.
- TVS IQube prices cut off by Rs 11,250 courtesy of new FAME II policy
- IQube now costs Rs 1,00,777 ex-showroom New Delhi
- After the prices, cut TVS hopes to build a good customer base after the continuous hike in fuel prices
TVS Motor Company of India has officially revised the ex-showroom prices of their sole electric scooter in India iQube, after the new revised FAME II policy. The FAME II (faster adoption and manufacturing of electric vehicles in India) adaptation led to the prices of zero-emission two-wheelers prices will get lower with a bigger margin with new revision in the policy. Many manufacturers already displayed the new prices of their electric two-wheeler offering which also includes TVS. The homegrown manufacturer believes with this penetration of customers toward EV will gain potential.
Earlier, TVS IQube was priced at Rs 1,12,027 ex-showroom, and following the revision in prices, it is now priced at Rs 1,00,777 ex-showroom, New Delhi. While in Bengaluru the Scooter costs Rs 1,21,756 and now it is priced at Rs 1,10,506. The reason behind the more affordable price of IQube in Delhi is that the Delhi government provide small subsidies to the customers and as well as to manufacturer regarding the air pollution and hopes to encourage more customers towards electric mobility. The latest amendment in FAME II increases the subsidy by 50% to Rs 15,000 Per KWh.
TVS sole electric scooter IQube competes against the Bajaj Chetak EV and Bengaluru-based Ather energy 450X scooter. While the former doesn’t reveal their revised prices till now, but Ather energy already released the revised prices for 450X and 450 Plus, in which prices for both the variant goes down by Rs 14,500. With the prices cut by Rs 11,200 in IQube, the brand hopes to attract more buyers as it is currently the most affordable EV scooter in the market with plenty of features. However, competition will get more and more as many mainstream two-wheeler manufactures are planning to launch their new electric scooters in India by 2022.