Hero MotoCorp increases the cost of the VIDA V1 Pro e-scooter by Rs 6,000

Hero MotoCorp, the largest two-wheeler manufacturer in the nation, raised the price of its electric scooter VIDA V1 Pro by almost Rs 6,000 to counteract the effects of the reduced subsidy scheme for electric two-wheelers that would take effect from June 1. The brand-name electric scooter from the company, the VIDA V1 Pro, is now offered for Rs 1,45,900, including the FAME II subsidy and a portable charger. This is an increase of about 6,000 rupees from the previous price.

When ET contacted a business dealer confirmed the news and added that the two-wheeler manufacturer had absorbed the majority of the effects of the FAME II subsidy reduction that took effect on June 1 and had only passed on a small portion of the increased cost to potential customers.

The Ministry of Heavy Industries has lowered the maximum subsidy cap for electric two-wheelers from 40% of the ex-factory price to 15%. According to news reports, the FAME II modification led to a subsidy cut of almost Rs 32,000 per unit.

For more sustainable operations, numerous electric two-wheeler companies have already increased the price of their electric versions.

According to TVS Motor Company, the price of the iQube has raised by between Rs 17,000 and Rs 22,000 depending on the variation in order to sustainably forward the electrification journey.

In Delhi, the base and S trims of the iQube were formerly priced at Rs. 1,06,384 and Rs. 1,16,886, respectively.

After the FAME II subsidy change, Ather Energy claimed to have also adjusted the cost of its scooters, with the 450X now starting at Rs 1,45,000 (ex-showroom Bengaluru).

The price of the 450X with Pro Pack has increased by about 8,000 rupees to Rs 1,65,435 in Bengaluru. The S1 Pro, S1 (3KWh), and S1 Air (3KWh) electric scooters from Ola are now each priced at Rs 1,39,999, Rs 1,29,999, and Rs 1,09,999, respectively.

The price range of the products has increased by almost Rs 15,000. Hero Electric has declared that it won’t raise the cost of its well-liked e-scooter models.

The company stated that it is still committed to encouraging the use of electric two-wheelers and eliminating myths regarding their ownership costs.

According to a notification from the Heavy Industries Ministry, the demand incentive for electric two-wheelers will be Rs 10,000 per kWh.

The maximum incentive for electric two-wheelers will drop from 40% to 15% of the vehicle’s ex-factory price.

The FAME India plan, which stands for ‘Faster Adoption and Manufacturing of Electric and Hybrid Vehicles,’ started on April 1, 2019, for a three-year period that was then extended for an additional two years, ending on March 31, 2024.

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