Electric two-wheeler makers cut prices; Ather, TVS, Ampere, Okinawa issue revised prices

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26 Aug, 2025 12:21

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Two days after the government raised demand incentives, manufacturers of electric two-wheelers issued a revised price list of all models that qualify for the new subsidy.

The cut in prices of a maximum Rs 14,500 have made these battery-powered two-wheelers close the gap further with their petrol counterparts, and, in some cases even cheaper.

The total subsidy offered on the Ather 450 Plus now stands at Rs 43,500 -- up from the earlier Rs 29,000. The model’s price stands revised at Rs 125,490 in Bengaluru, but it is the cheapest in New Delhi -- at Rs 113,416, thanks to the additional Delhi-government subsidy of Rs 14,500. This takes the total subsidy on the Ather 450 Plus to Rs 58,000.

Ather’s second offering, 450X, carries the same subsidy and is now priced at Rs 132,426 in New Delhi. Ather Energy, which is backed by Hero MotoCorp, further said that while the on-road prices have been revised, existing loan, lease and buyback terms will be updated soon.

TVS Motor Company jumped onto the bandwagon to declare a reduction of Rs 11,250 for its only fully electric model, the iQube, which now stands at Rs 100,777 in New Delhi.

Greaves Cotton-owned Ampere Vehicles reduced the prices of two of its models that qualified for the new demand incentives. The Ampere Magnus is now available at Rs 65,990 in New Delhi, down from Rs 74,990 earlier. The Ampere Zeal is now priced at Rs 59,990, down from Rs 68,990.

Okinawa Autotech, India's second largest electric two-wheeler maker,  reduced prices of three of its models - iPraise+, Praise Pro, Ridge+ - in the range of Rs 7,209 to Rs 17,892. These revised prices were brought into effect from June 11. Hero Electric, the country’s largest manufacturer of battery-powered two-wheelers, will issue a revised price list in the next few days.

As per the latest modification done in the scheme of Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II), the demand incentive has been raised to Rs 15,000 per KWh from Rs 10,000 per KWh for electric two-wheelers.

Likewise, the cap on incentives for electric two-wheelers has been raised to 40 percent of the vehicle cost. Before this modification, the cap stood at 20 percent, as per the initial notification of the FAME India Phase II done in early 2019.

However, many electric two-wheelers do not qualify for the incentives because of their specifications. To qualify for the incentive, the maximum ex-factory price of the vehicle should not be more than Rs 150,000 and it should have a minimum range of 80km, with a minimum top speed of 40 kmph.

Ather’s offering of the 450 Plus at Rs 113,416 positions the vehicle closer to the Honda 125, whose base version is priced at Rs 71,674 (ex-showroom, New Delhi).

The 450 Plus, however, becomes cheaper than the Aprilia SXR 125, the most recent entrant in the 125cc scooter category, which is priced at Rs 116,000 in New Delhi (ex-showroom).