TVS Motors increase prices for electric scooter iQube

2 Jun 2023 , 11:37 AM

TVS Motor Company has announced that prices for electric scooter iQube in India will be increased from now onwards. In its official statement released on Thursday, the company stated that EV price will have an effective increase between Rs 17,000 to Rs 22,000, depending on the variant.

The announcement comes on the heels of the Centre lowering the subsidy rate offered to EV manufacturers under the FAME II scheme.

The government announced that from June 1, it will offer only 15% of the price of an electric two-wheeler as a subsidy from previous rate of 40%.

Furthermore, Ola Electric and Ather have also increased the prices of their electric scooters in the country.

TVS Motor Company also announced that customers who have made pre-booking before May 20, 2023 will be extended an additional loyalty benefit.

TVS Motors also informed that iQube registered sales of 1,00,000 units for its range of scooters in the last financial year. Moreover, iQube has surpassed 20,000 units of retail and has a healthy pipeline of booking over 30,000 units.

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