Electric two-wheelers become costlier: Bajaj, TVS, Ather, and more
What's the story
The launch of the Electric Mobility Promotion Scheme (EMPS) by the Indian government has triggered a series of price hikes among electric two-wheeler manufacturers, effective from April 1. Ather Energy's 450 range has experienced the most significant rise, with its entry-level model, the 450S, seeing a hike of ₹16,000. The 2.9kWh version of the high-end 450X, has witnessed a minor increase of ₹3,000, while the top-tier 3.7kWh model now costs an additional ₹10,000.
Market response
Bajaj and TVS follow suit with price increases
Bajaj Auto has also revised its pricing for the Chetak series, with increases reaching up to ₹12,000. The Chetak Urbane now costs ₹8,000 more than its previous price tag, while the Chetak Premium model has seen a rise of ₹12,000. Meanwhile, TVS Motor Company has hiked the price of its popular iQube model. The base variant now comes with an extra cost of ₹3,000 and the premium iQube S is priced ₹6,000 higher.
Pricing strategy
Hero and Ola's contrasting pricing strategies
Hero MotoCorp's electric vehicle division, VIDA, has also adjusted its pricing structure following the introduction of EMPS. The V1 Plus model now carries an additional cost of ₹5,000 and the V1 Pro model is priced ₹4,000 higher. However, Ola Electric stands out in this industry-wide trend as it hasn't announced any price hikes for its electric scooters. It is expected to maintain current prices until April 15.
Information
How much do the vehicles cost?
Ather's scooters now cost between ₹1.26-1.55 lakh, while Bajaj's Chetak range is priced between ₹1.23-1.47 lakh. TVS's iQube range sports a price figure of ₹1.37-1.46 lakh. Finally, the VIDA V1 Plus and V1 Pro are priced at ₹1.2 lakh and ₹1.5 lakh, respectively (ex-showroom).