Bajaj Auto, Ather Energy, TVS, and Hero MotoCorp also likely to increase the prices on their top products soon.
The leading EV two-wheeler manufacturer Ola Electric has hiked the prices of its feature-loaded electric scooters by up to Rs 15,000. Now, the company is selling
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the S1 scooters at the starting price of Rs 1.30 lakh, while the S1 Pro can be purchased at Rs 1.40 lakh. To note. both the mentioned prices are ex-showroom and might fluctuate, depending upon the cities or states.
The decision comes after a month after the government reduced the subsidies on electric vehicles under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) scheme. The previous subsidy, which was set at Rs. 15,000 per kWh, has been decreased to Rs. 10,000 per kWh under the amended formula. Additionally, the maximum amount of subsidy was decreased from 40% to 15% of MRP, which somehow forced the top companies to increase the prices of electric vehicles.
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Companies To Increase Prices of Vehicles
Ola Electric is not the only one that has hiked the prices of two-wheeler EVs, the trend is likely to be followed by Bajaj Auto, Ather Energy, TVS, and Hero MotoCorp, which might increase the prices of their products soon.
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Ola S1, S1 Pro E-Scooters Specs
Meanwhile, Ola S1 Pro has been launched with a battery pack of 3.97 kWh, which provides a 58 Nm peak torque. The company claims that the electric scooter can churn out a riding range of 135 km on a full top-up. As far as the S1 is concerned, it features a 2.98 kWh battery pack and can go up to 121 kilometres on a single charge. The scooter provides a max torque of 58 Nm and has a top speed of 90 kmph.
