Significant price hike for electric scooters since June 2023

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Revolt and Ather.

Kochi: Prospective buyers of electric scooters should exercise caution as the prices have witnessed a surge in June. Many companies have implemented price hikes of up to 18 per cent, citing the reduction in subsidies for electric vehicle manufacturers.

Ola Electric, currently leading the electric two-wheeler market with a 28 per cent share, has raised the prices of its various models by Rs 15,000 each. As a result, the price of the S1 Pro will rise from Rs 1.25 lakh to Rs 1.40 lakh, and the S1 from Rs 1.15 lakh to Rs 1.30 lakh. With the reduced subsidy for Ather energy, the average impact per vehicle will be around Rs 32,500. TVS Motors, depending on the model version, will witness price increases ranging from Rs 17,000 to Rs 22,000.

Such sudden price hikes are likely to discourage potential customers. In contrast, Hero has announced that it will not raise the prices of its electric scooter models, even in the event of reduced subsidies.

According to data from the Federation of Automobile Dealers Associations (FADA), two-wheelers accounted for 78 per cent of total vehicle sales in India in 2016. However, due to continuous price hikes since 2020, this share has declined to 72 per cent in the last financial year. The prices of various two-wheelers have significantly increased over the past few years.

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