What are the Electric Scooter prices after the revoked FAME 2?

Are you planning to get an electric scooter this year? There’s bad news for you then! As we know the electric two-wheelers had subsidies on them which used to make them comparatively cheaper. These subsidies were under the FAME 2 (Faster Adoption and Manufacturing of Electric Vehicles) scheme which helped the electric vehicle industry to grow. However, these subsidies will end on March 31, 2024. This has had a significant impact on the electric scooter prices.  

Subsidies were the government’s initiative to help make a better and pollution-free environment. Due to the subsidies, there was a significant increase in the demand for electric two-wheelers which can now have a downfall after the subsidies are revoked. This is pretty obvious that when we start getting something at lower rates and when the costs hike, people are then reluctant to buy the same product at higher prices. 

Now, let’s have a look at its impact on the electric scooter prices in India of the top electric scooter brands:-

Electric scooter prices in India 2024

 Ola

Ola is one of the most advanced e-scooter brands consisting of a lot of new technologies and advancements in every model. Let’s call it a “luxury scooter” as it has everything you’re looking for! Talking about the new prices, you’ll be surprised to know that there are no changes in any of the prices of Ola e-scooters. Let’s call it Ola’s good marketing move! 

Basically, the amount that was increased due to the discontinuation of FAME 2 subsidies is decreased by Ola as a discount. So, if you were planning to buy Ola’s e-scooter, you don’t have to change your plans. Sharing a list of models and their prices for you to have an idea.

TVS

TVS also had an idea that an increase in prices of electric two-wheelers could negatively affect demand. Keeping this in mind, they have also tried to reduce the cost of vehicles so that there’s not a big hike. But still, there’s an increase in the price of TVS iQube. It cost ₹1,40,000 before the 1st of April and now, its new cost is ₹1,46,420. 

TVS iQube is one of the smartest electric scooters having Alexa integration, remote vehicle immobilisation, keyless unlocking, touchscreen functionality, social media notifications, and so not. A little price change won’t affect its demand due to its extraordinary features.

Ather

Ather is a very trusted brand when it comes to electric scooters. It has a variety of models and an innovative update with every new model. It has also tried to reduce its prices to lessen the burden of increased subsidies, but as the discounts are over by the company, it hasn’t made much of a difference. The cost has been increased making it an expensive option as compared to others. 

Vida

Vida is a brand owned by the well-known brand- Hero MotoCorp. It is and has always been trustworthy. Due to the discontinuation of FAME 2, they haven’t brought any changes in their e-scooter price range. However, there are no discounts seen on the buying prices at online platforms which shows a hike.

Chetak

There are no updates about the price ranges for the Chetak electric scooter, they will update it soon. 

Upcoming Electric scooter in 2024 

Scooter brands announced new electric scooter models and prices in the wake of the FAME 2 scheme’s completion. It shows the electric scooter brands significant potential in the Indian EV (Electric Vehicle) industry. This may be the reason for the high discount on electric scooter prices. The absence of FAME 2 incentives has prompted companies to innovate and offer competitive products to capture consumer interest, further fueling the growth of the electric two-wheeler segment in India.

In conclusion, it should be noted that the market has been agitated by the recent withdrawal of two subsidies for electric two-wheelers, especially about how different e-scooter brands have priced their products. The subsidies, which were first provided under the FAME 2 program, were crucial in promoting the use of electric automobiles and fostering environmental sustainability. But amid these price changes, customers can find themselves rethinking their choices. The decision-making process will probably give substantial importance to elements like the overall worth proposition, brand loyalty, and technology improvements. It is uncertain how producers will innovate and adjust to maintain the accessibility and affordability of electric two-wheelers in the changing market environment as the industry makes its way through these changes. In the end, even while the elimination of subsidies could bring difficulties, it also acts as a catalyst for further innovation and expansion in the electric vehicle industry.

Frequently Asked Questions

Q1. What was the FAME 2 scheme, and how did it influence electric scooter prices in India?
A1. The FAME 2 (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme was a flagship initiative by the Indian government to accelerate electric mobility. It offered subsidies to electric vehicle manufacturers, particularly for electric two-wheelers, which significantly brought down prices for end-users. As a result, electric scooters became more accessible and appealing to a broader consumer base.

Q2. With FAME 2 subsidies now phased out, are there any alternative benefits for electric scooter buyers?
A2. While central government subsidies under FAME 2 have ended, many state governments continue to offer incentives. These include direct subsidies, road tax exemptions, registration fee waivers, and interest-free loans on electric vehicle purchases. Buyers should check local policies, as these benefits vary by state.

Q3. How will the end of FAME II subsidies impact electric scooter adoption in India?
A3. The discontinuation of FAME 2 subsidies might slow down the initial pace of electric scooter adoption due to increased prices. However, long-term factors like rising fuel costs, growing environmental awareness, improved EV technology, and expanding charging infrastructure are expected to keep the demand trajectory upward.

Q4. Does the end of FAME 2 affect the development of electric scooter charging infrastructure?
A4. Not directly. While FAME 2 did contribute to EV ecosystem development, the expansion of charging infrastructure is also supported by other central and state initiatives. Continued investment and policy support are crucial to ensure that a robust and widespread charging network grows alongside EV adoption.

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