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Electric Two-Wheelers Experience Price Hike Across India: The EMPS Effect
The introduction of the new Electric Mobility Promotion Scheme (EMPS) from April 1 has led to a notable increase in the prices of electric two-wheelers across India. This change has affected nearly all manufacturers, with some of the country's leading brands adjusting their pricing structures to align with the new policy.
Among these EV manufacturers, Ather Energy, Bajaj Auto, and TVS Motor Company have made significant revisions to their electric vehicle (EV) lineup. As such, here's a closer look at the newly updated pricing structures of the above-listed automakers.
Price Adjustments Across Major Brands
Ather Energy's 450 series has experienced the most substantial price hike. The 450S model now costs Rs 16,000 more, settling at Rs 1.26 lakh, while the 450X variant sees a Rs 3,000 to Rs 10,000 increase.
Bajaj Auto's Chetak models also witnessed a price revision, with the Urbane model now Rs 8,000 more expensive and the Premium model seeing a Rs 12,000 increase. Similarly, TVS Motor Company's iQube electric scooter is now pricier by Rs 3,000 to Rs 6,000.
Hero's electric arm, Vida, has adjusted the prices of its V1 series, marking up to Rs 5,000 more than their original prices. The EMPS aims to promote electric mobility in India, but its immediate effect has been an upward revision of EV prices.
Ather Energy, for instance, has had to adjust the pricing of its sporty 450 range significantly. The most notable increase is for the 450S model, which now costs Rs 16,000 more.
On the other hand, Ola Electric, another significant player in the Indian EV market, has chosen not to increase the prices of its electric scooters until April 15. This decision comes as the company prepares for a public offering in the near future.
DriveSpark Thinks
The introduction of the EMPS has led to a ripple effect across the Indian electric two-wheeler market, with prices seeing a noticeable uptick. As companies adjust to the new scheme, consumers are likely to feel the impact through increased costs.
Ola Electric's decision to delay its price revision could offer a temporary reprieve for potential buyers. As the market adapts to these changes, it will be interesting to see how the landscape of electric mobility in India evolves.
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