Hero Electric, a famous electric two-wheeler maker, has announced that it will not increase the prices of its e-scooter models despite the recent reduction in the FAME-II subsidy.
Starting from June 1, 2023, the FAME-II subsidy has been revised to Rs. 10,000 per kWh, down from the previous amount of Rs. 15,000 per kWh. The revised subsidy also has a maximum cap of 15% of the ex-factory price.
In a press statement, Hero Electric emphasized the importance of affordability in driving the widespread adoption of electric vehicles. The company believes that maintaining price stability is crucial in achieving this goal. By keeping their prices unchanged, Hero Electric aims to encourage more consumers to switch to electric vehicles without incurring additional costs.
Sohinder Gill, the CEO of Hero Electric, expressed concern about the sudden reduction in subsidies, stating that it may negatively impact customer adoption of electric two-wheelers. While the industry may still see higher sales than the previous year, it may not maintain the exponential growth rate. It might fall short of the target of 2.3 million units projected by Niti Aayog, an Indian policy think tank.
3 New Models
Hero Electric recently launched three new models in the Indian market: Optima CX 5.0, Optima CX 2.0, and NYX. These models feature Japanese motor technology for a smoother ride and German ECU technology for precise performance.
They also have features such as remote maintenance, enhanced battery life protection, and improved charging efficiency.
- Hero Electric Optima CX 5.0: This scooter has a top speed of 55 km/h and a range of 135 km on a single charge. A 3 kWh battery powers it and has a 6.5-hour charging time. The Optima CX 5.0 is priced at ₹1.3 lakhs (ex-showroom).
- Hero Electric Optima CX 2.0: This scooter has a top speed of 45 km/h and a range of 82 km on a single charge. A 1.536 kWh battery powers it and has a 4-5 hour charging time. The Optima CX 2.0 is priced at ₹67,329 (ex-showroom).
- Hero Electric NYX: This scooter has a top speed of 65 km/h and a range of 110 km on a single charge. A 3.84 kWh battery powers it and has a 5-6 hour charging time. The NYX is priced at ₹1.05 lakhs (ex-showroom).