According to a news agency, the prices of electric two-wheelers may increased by up to 18%.
Mumbai : The number of electric scooters on the roads is gradually increasing as people seek alternative options due to rising petrol prices and inflationary pressures. Both individuals and the government are placing special emphasis on reducing carbon emissions from transportation. Hence, the significance of electric vehicles, particularly electric scooters, is increasing. Not only are electric scooters more cost-effective in terms of fuel consumption, but their integration of advanced technology also makes them appealing to consumers. However, the prices of these vehicles have been witnessing a noticeable increase in the country.
According to a news agency, the prices of electric two-wheelers may increased by up to 18%. This is because a majority of electric bike manufacturers in the country have been availing the benefits of the FAME II scheme, a government initiative. Some organizations may pass on the impact of reduced subsidies to their customers, affecting their buying decisions. Experts believe that while the price hike may have a short-term impact on the demand for these vehicles, the possibility of a significant long-term effect is unlikely.
One of the leading electric two-wheeler manufacturers in the country, Ola Electric, may increased the prices of their models by up to 15,000 INR. As per a top official of the company, the OLA S1 Pro model will now cost 1,40,000 INR, up from the current price of 1,25,000 INR. The price of the S1 model may increase from 1,15,000 INR to 1,30,000 INR. Currently, Ola Electric holds the top position in the electric two-wheeler market in the country, with a 28% market share.
Another electric two-wheeler manufacturer in the country, Ather Energy, may witness a price hike of up to 32,000 INR per vehicle due to the reduction in subsidies. However, the company does not intend to transfer the entire impact of the subsidy reduction to its customers. The Chief Business Officer of Ather Energy, Ravneet Singh Phokela, stated that they have not made any announcements regarding the price increase. They believe that implementing such a step abruptly would be a big blow to the customers. Nevertheless, they are confident that this price hike will not have a significant long-term impact on the expanding demand. It is imperative for the industry to consider selling e-scooters without subsidies; however, this process should be gradual.
As the popularity of electric scooters continues to grow, it is important to address the issue of rising prices and strike a balance between affordability and sustainability. Encouraging the sale of e-scooters without subsidies should be a long-term plan, but it should be implemented with caution to ensure a smooth transition.
Mumbai : The number of electric scooters on the roads is gradually increasing as people seek alternative options due to rising petrol prices and inflationary pressures. Both individuals and the government are placing special emphasis on reducing carbon emissions from transportation. Hence, the significance of electric vehicles, particularly electric scooters, is increasing. Not only are electric scooters more cost-effective in terms of fuel consumption, but their integration of advanced technology also makes them appealing to consumers. However, the prices of these vehicles have been witnessing a noticeable increase in the country.
According to a news agency, the prices of electric two-wheelers may increased by up to 18%. This is because a majority of electric bike manufacturers in the country have been availing the benefits of the FAME II scheme, a government initiative. Some organizations may pass on the impact of reduced subsidies to their customers, affecting their buying decisions. Experts believe that while the price hike may have a short-term impact on the demand for these vehicles, the possibility of a significant long-term effect is unlikely.
One of the leading electric two-wheeler manufacturers in the country, Ola Electric, may increased the prices of their models by up to 15,000 INR. As per a top official of the company, the OLA S1 Pro model will now cost 1,40,000 INR, up from the current price of 1,25,000 INR. The price of the S1 model may increase from 1,15,000 INR to 1,30,000 INR. Currently, Ola Electric holds the top position in the electric two-wheeler market in the country, with a 28% market share.
Another electric two-wheeler manufacturer in the country, Ather Energy, may witness a price hike of up to 32,000 INR per vehicle due to the reduction in subsidies. However, the company does not intend to transfer the entire impact of the subsidy reduction to its customers. The Chief Business Officer of Ather Energy, Ravneet Singh Phokela, stated that they have not made any announcements regarding the price increase. They believe that implementing such a step abruptly would be a big blow to the customers. Nevertheless, they are confident that this price hike will not have a significant long-term impact on the expanding demand. It is imperative for the industry to consider selling e-scooters without subsidies; however, this process should be gradual.
As the popularity of electric scooters continues to grow, it is important to address the issue of rising prices and strike a balance between affordability and sustainability. Encouraging the sale of e-scooters without subsidies should be a long-term plan, but it should be implemented with caution to ensure a smooth transition.
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