Prime Minister Narendra Modi said in one of his speeches “Now is the time, this is the right time”. Although he said this in a different context, this is especially applicable to those who have made up their minds to buy an electric vehicle in the next few months. Why do you hear me saying that?
According to experts, March 31 is the best time to buy an electric scooter or bike. Because an atmosphere of uncertainty has been created regarding the tenure of the central government’s fame subsidy. The term may expire in the current financial year. The Center had cut the amount of subsidy payable under the FEM scheme from the beginning of the financial year 2023-24. At that time it was said that the financial subsidy would be given on electric scooters and bikes till March 31, 2024 or till the end of the allocation (whichever is earlier). That time has arrived.
The Modi government imposed a total subsidy of Rs 7,048 crore on electric two-wheelers, three-wheelers and four-wheelers. Meanwhile, Ather Energy, one of India’s manufacturers of electric two-wheelers, will get an opportunity to save Rs. 22,485 according to Fame Two subsidy if they buy or register an electric two-wheeler before March 31.
From the beginning of February, various electric two-wheeler manufacturers appeared with a bunch of offers. Which is valid till 29 February. The month is coming to an end. Only one day left. So if you want to buy an electric two wheeler, it is not wise to delay. Leading companies like Ola Electric and Okaya are offering attractive discounts this month.
Until February 29, Okaya is offering up to Rs 18,000 off on their battery-powered two-wheelers. The minimum price of their electric scooter is Tk 74,899. The range is 75 km. The Faast F4 model offers a range of 140 to 160 km on a full charge. Due to the addition of discount, the price has come down from Tk 1,37,990 to Tk 1,19,990.
On the other hand, Ola has announced a price cut of up to Rs 25,000 on its S1 Pro, S1 Air and S1 X+ models. The flagship S1 Pro is currently priced at Rs 1.30 lakh (ex-showroom). This gives a discount of 17,500 rupees. The model was earlier priced at Rs 1,47,500 (ex-showroom). Also Ola’s cheapest scooter S1 X+ is now available at Rs 25,000. Where it used to cost Rs 1.10 lakh (ex-showroom) to buy it, now it can be bought at Rs 85,000. And the price of Ola S1 Air has come down by Rs 15,000 to Rs 1.05 lakh (ex-showroom).
