In view of the recent revision in subsidy under the FAME II Scheme, TVS Motor Company said that it has reduced the price of iQube Electric scooter by Rs 11,250. The electric scooter is now priced at Rs 1,00,777 in Delhi from Rs 1,12,027 earlier.
The company said in a statement that the new pricing is in line with the recently announced revision in subsidy under the FAME II scheme by the government. According to the company, the improved incentives would increase the penetration of electric two-wheelers in the country.
With government’s partial modification of the scheme for Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II), the demand incentive for electric two-wheelers was increased to Rs 15,000 per KWh from the earlier uniform subsidy of Rs 10,000 per KWh for all EVs, including plug in hybrids and strong hybrids except buses.