user
Ad

TVS iQube Electric Scooter Gets Dearer By Up To Rs 22,000 - Details

By:Shipranshu Pandey
Updated On: June 1, 2023 15:17 IST
Correspondent with a strong knowledge of the automotive industry. Spent most of my time researching, analyzing and writing about the Indian auto industry. My passion for cars started by collecting newspaper clippings when I was just a toddler. I am obsessed with cars and technology and can talk about them all day. Always ready to drive anything with wheels.
  • Follow Us On Goggle News
  • 95% users like this story
TVS iQube Electric Scooter Gets Dearer By Up To Rs 22,000 - Details

KEY HIGHLIGHTS

  • TVS has increased the price of its electric scooter after FAME II subsidy drops
  • The TVS iQube range is now dearer up to Rs 22,000
  • Customers who have booked the scooter before 20 May will get price protection

TVS has increased the price of its iQube electric scooter in response to the drop in Fame II subsidy by the government. Following FAME II revision from June 1, 2023, the price of the TVS iQube will increase by between Rs. 17,000 and Rs. 22,000, depending on the variant. Customers who pre-book before May 20, 2023, will also receive an additional loyalty bonus from TVS Motor.

Also Read: Ola S1 & S1 Pro Gets Dearer By Rs 15,000 - Check New Price

TVS iQube Price Hike

Earlier the TVS iQube was eligible for a subsidy of up to Rs 51,000. Now, the Ministry of Heavy Industries has set a limit on the subsidy for electric two-wheelers (E2Ws), capping it at 15% of the ex-factory price. Also, the subsidy has been revised to Rs 10,000 per kilowatt-hour (kWh) of battery capacity. As a result, the maximum incentive under the FAME-II scheme that the iQube and iQube S can now receive is Rs 22,500.

To lessen the financial strain following the change to the FAME II subsidy, and in keeping with TVS Motor's commitment to being customer-centric, the business will offer a loyalty bonus programme for TVS iQube customers who have made bookings through May 20, 2023. Additionally, beginning on June 1, 2023, new customers can book the iQube electric scooter at the revised prices without having to pay the full cost of the FAME II subsidy.

2022 TVS iQube electric scooter launched

In the last fiscal year, TVS iQube sold a record 1,00,000 units of its range of scooters, which is evidence of a robust client base. In May 2023, TVS iQube's retail sales surpassed 20,000 units, and it still has a sizable booking pipeline of more than 30,000 units.

Also Read: TVS Apache 200 4V Gets A New Special Racing Edition - Check Images

FAME II will gradually reduce over the next few quarters. TVS Motor will continue to deliver delightful product options and great value proposition to propel the electrification and green energy penetration in two-wheelers in the country. In line with TVS Motors commitment of being customer centric, the company will offer a loyalty benefit programme for the customers of TVS iQube who have made bookings till May 20, 2023, for a limited period to ease the cost burden post the revision in FAME II subsidy. Additionally, new customers can also avail new prices without having to bear the full burden of FAME II revision on booking the vehicle starting June 1, 2023.

Verdict: The change in FAME II subsidy will effect the buyers as the buyers need to pay more money for new electric two-wheelers. You can join our 91Wheels Whatsapp Group for all of such latest updates from the automotive industry.

Also Check These Scooters

  • TVS iQube Electric
    TVS iQube Electric
    ₹ 1.56 - ₹ 1.63 Lakh*
    *Ex-showroom Price
    View Offers
  • Ather 450S
    Ather 450S
    ₹ 97,547 - ₹ 1.08 Lakh*
    *Ex-showroom Price
    View Offers
  • Vida V1
    Vida V1
    ₹ 1.15 - ₹ 1.46 Lakh*
    *Ex-showroom Price
    View Offers
  • Ather 450X
    Ather 450X
    ₹ 1.26 - ₹ 1.52 Lakh*
    *Ex-showroom Price
    View Offers
  • Simple One
    Simple One
    ₹ 1.65 Lakh*
    *Ex-showroom Price
    View Offers
  • Ola S1 Pro
    Ola S1 Pro
    ₹ 1.30 - ₹ 1.47 Lakh*
    *Ex-showroom Price
    View Offers
  • Bajaj Chetak
    Bajaj Chetak
    ₹ 1.15 - ₹ 1.35 Lakh*
    *Ex-showroom Price
    View Offers
  • Joy E-bike Mihos
    Joy E-bike Mihos
    ₹ 1.49 Lakh*
    *Ex-showroom Price
    View Offers
  • Ola S1 X
    Ola S1 X
    ₹ 79,999 - ₹ 1.10 Lakh*
    *Ex-showroom Price
    View Offers
  • Ampere Primus
    Ampere Primus
    ₹ 1.46 Lakh*
    *Ex-showroom Price
    View Offers
  • Ola S1 Air
    Ola S1 Air
    ₹ 1.05 Lakh*
    *Ex-showroom Price
    View Offers

TVS Scooter in India

  • Popular scooters
View All Popular Scooter