Ather Energy, Bajaj Auto, TVS and Hero MotoCorp is also expected to increase the prices of their products.
Ola Electric has increased the prices of the S1 and S1 Pro e-scooters by up to Rs 15,000. The S1 costs Rs 1.30 lakh, while the S1 Pro is now priced at Rs 1.40 lakh (ex-showroom).
Earlier this month, the government reduced the subsidies offered on electric 2-wheelers under the FAME-II scheme. As per the revised formula, the existing subsidy of Rs 15,000 per kWh has been reduced to Rs 10,000 per kWh. The maximum cap on subsidy has also been reduced from 40% to 15% of MRP.
This has resulted in a massive increase in the prices of the Ola S1. Earlier, the S1 Pro qualified for a total subsidy of Rs 59,550. With the revision in prices, the gap between the S1 and S1 Pro has reduced to Rs 10,000.
Besides Ola Electric, other EV makers such as Ather Energy, Bajaj Auto, TVS and Hero MotoCorp, are also expected to increase the prices of their products.
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