FAME II Revisions results in Massive price cuts for Electric Two-Wheelers in India

The FAME II scheme (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) recently received a critical revision.

The subsidy allocation for electric 2-wheelers was increased from Rs 10,000 per kWh to Rs 15,000 per kWh, a jump of 50%.

This increase in incentives for electric motorcycles and scooters has resulted in a substantial decrease in their respective retail prices.

Several automakers in India who sell electric 2-wheelers have announced massive price cuts for their range of vehicles. 

These include Ather, Ampere, Okinawa, Hero Electric, Revolt as well as TVS.

Here is a detailed description of their respective price cuts. 

FAME II Ather 450X Image
Ather 450X

FAME II revisions: Ather drops prices by up to Rs 14,500

Because of the increase in incentives, Ather Energy has dropped the prices of its electric 2-wheelers by up to Rs 14,500.

Before RevisionAfter RevisionDifference
450 Plus Rs 1,27,916Rs 1,13,416Rs 14,500
450 X Rs 1,46,926Rs 1,32,426Rs 14,500

The 450 Plus now retails at Rs 1,13,416 in New Delhi. Earlier, it used to cost 1,27,916. 

Similarly, the 450X now has an ex-showroom price of Rs 1,32,426 in New Delhi. A substantial drop from its previous retail price of Rs 1,42,926.

Ather has reduced the prices of 450X and 450 Plus in other states as well.

Ampere Magnus Zeal Image
Ampere Magnus and Ampere Zeal

FAME II Revisions: Ampere Electric revises prices by up to Rs 9,000

Ampere Electric, the electric mobility division of Greaves Cotton, has reduced the prices of its electric two-wheelers by up to Rs 9,000.

Before RevisionAfter RevisionDifference
ZealRs 68,990Rs 59,990Rs 9,000
Magnus ProRs 74,990Rs 65,990Rs 9,000

It’s Zeal electric scooter used to cost Rs 68,990 before the recent revisions. Now, however, its prices stand at Rs 59,990.

Ampere’s Magnus Pro now has an ex-showroom price of Rs 65,990. It earlier used to retail at Rs 74,990.

FAME II Okinawa iPraise+ Praise Pro Ridge Image
Okinawa iPraise+, Praise Pro and Ridge

FAME II revisions: Okinawa drops prices by up to Rs 17,900

An increase in subsidies has led Okinawa to reduce electric 2-wheeler’s prices between Rs 7,200 to Rs 17,900.

Before RevisionAfter RevisionDifference
iPraise+Rs 1,17,600Rs 99,708Rs 17,892
Praise ProRs 84,795Rs 76,848Rs 7,947
RidgeRs 69,000Rs 61,791Rs 7,209

Okinawa iPraise+ now costs Rs 99,708, in comparison to its earlier retail price of Rs 1,27,600.

Similarly, the Praise Pro now retails at Rs 76,848, as opposed to Rs 84,795.

While the Okinawa Ridge now costs Rs 61,791. Before the increase in subsidy, its price was Rs 69,000.

Revolt RV400 Image
Revolt RV400

FAME II Revisions: Revolt drops prices by up to Rs 28,200

Revolt currently retails two electric motorcycles in India. These are, namely, RV300 and RV400.

The automaker has reduced the price of the RV400 by up to Rs 28,201.

Before RevisionAfter RevisionDifference
RV400 (New Delhi)Rs 1,19,000Rs 90,799Rs 28,201
RV400 (Other States)Rs 1,19,000Rs 1,06,999Rs 12,001

Before the recent revisions, the electric motorcycle used to retail at Rs 1,19,000. 

Now, the ex-showroom price of the RV400 is Rs 90,799 in New Delhi. While in the other states, it is Rs 1,06,999.

Revolt is yet to announce the revised prices of the RV300. 

TVS Iqube Image
TVS iQube

FAME II Revisions: TVS revises prices by up to Rs 11,250

TVS Motor Company currently retails the iQube electric scooter in our country.

The Chennai based 2-wheeler manufacturer has reduced the prices of this electric scooter by up to Rs 11,250.

Before RevisionAfter RevisionDifference
iQube (New Delhi)Rs 1,12,027Rs 1,00,777Rs 11,250
iQube (Bangalore)Rs 1,21,756Rs 1,10,506Rs 11,250

In New Delhi, the iQube used to cost Rs 1,12,027. Now it retails at Rs 1,00,777.

Similarly, in Bangalore, iQube used to cost Rs 1,21,756. While it now has a retail price of Rs 1,10,506. 

Hero Electric Optima HX Image
Hero Electric Optima HX

FAME II Revisions: Hero Electric drops prices by up to Rs 15,600

Hero Electric has also announced a price cut on its Optima HX of up to Rs 15,600.

Before RevisionAfter RevisionDifference
Optima HX (Single Battery)Rs 61,640Rs 53,600Rs 8,040
Optima HX (Dual Battery)Rs 74,660Rs 58,980Rs 15,680

The single battery version of this electric scooter now retails at Rs 53,600 in comparison to Rs 61,640. 

On the other hand, the dual battery version of this scooter now has a retail price of Rs 58,980. It previously used to retail at Rs 74,660. 

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