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Hero Cycles’ electric cycles subsidiary, Hero Lectro will cut down prices of 5 of its products by up to Rs 15,000 in the city of Delhi. Recently, the Delhi government announced tax benefits and subsidies for electric cycles under its Electric Vehicle Policy.
According to the company, it will offer a price cut of Rs 7,500 on eligible variants (C8i, C6, F6i and C5). These variants will be available for an on-road price range from Rs 23,499 to R 47,499. The Hero Lectro Cargo Winn will also be available at a reduced price of Rs 15,000 and will cost Rs 34.999 on-road.
Aditya Munjal, Director, Hero Cycles said, “The subsidy support will make e-cycles more affordable and accessible to a larger segment of society. While most of the models that are covered under the subsidy are primarily used for commute, fitness and micro-mobility needs, the price reduction in the cargo e-bike variant will make the Hero Lectro Winn the most cost-competitive, sustainable option in the hyperlocal delivery ecosystem.”
Munjal is of the opinion that this will give “a boost to the economic activity and new sources of income being created. The incentive is expected to boost the adoption of e-cycles, a sustainable and green mobility option in the national capital. ”