Monday, May 20, 2024
HomeNewsautomobileTVS has announced a price hike on...

TVS has announced a price hike on scooters on the first day of the month, check out how much the increase is

According to the decision of the Union Ministry of Heavy Industries, the upper limit of subsidy for electric two-wheeler FEM-II scheme has been reduced from 40% to 15% from June 1. As a result, the prices of electric two-wheelers of various companies are increasing by leaps and bounds. After Ola Electric, TVS has announced a price hike for its only electric scooter iQube. According to the domestic company, the price of the electric scooter is Rs 17,000 and Rs 22,000 depending on the variant.

The price of TVS iQube has increased drastically

The price of TVS iQube has been hiked twice in a couple of weeks. Last month, the price of each variant was increased by Rs 9,000. However, the effect of this year’s price increase is more. The reduction in subsidy to the FEM-II scheme is what has been raised. In this context, Manu Saxena, Vice President of TVS Motor Company said, “The price of TVS iQube will increase by Rs 17,000-22,000 from June 1, 2023, due to the reduction of subsidy on FEM-II.”

The price hike will currently cost the TVS iQube and iQube S Rs 1.66 lakh and Rs 1.68 lakh respectively (ex-showroom). However, TVS will give an opportunity to those customers who have booked the scooter till yesterday, at the old price. Even those who booked the e-scooter before May 20 will get additional loyalty benefits.

Incidentally, the TVS iQube is currently one of the best selling models in the electric scooter market in India. TVS has sold 1 lakh units of the scooter till April, 2023. Again in May this model is said to have sold 20,000 units.

Team NaxonTech
Team NaxonTech
We believe in the power of storytelling to inform, inspire, and transform perspectives. My journey as a content writer began with a fascination for technology, and I have since diversified my skills to cover a wide array of topics. With a keen eye for detail and a commitment to excellence, I strive to deliver content that not only meets but exceeds expectations.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Web Story

Latest Post