TVS Motor Co. Ltd., has effected a price increase of ₹17,000 to ₹22,000, depending on the variant, for its iQube e-2W electric scooter following a revision in FAME II subsidy.
The leading two-and-three-wheeler manufacturer said in a statement that it will offer a loyalty benefit programme for iQube customers, who have made bookings till May 20, for a limited period to ease the cost burden post the revision in FAME II subsidy.
“Towards propelling the electrification journey further in a sustainable manner and keeping our customer at the forefront, after FAME II revision TVS iQube‘s price increase from June 1, 2023 will be in the range of ₹17,000 – ₹22,000 depending on the variant,” said VP electric vehicles Manu Saxena.
“FAME II will gradually reduce over the next few quarters. TVS Motor will continue to deliver delightful product options and great value proposition to propel the electrification and green energy penetration in two-wheelers in the country,” said CEO K.N. Radhakrishnan.
Last fiscal, TVSM had sold one lakh units of iQube. In May, iQube crossed 20,000 units in retail sales and had a booking pipeline of more than 30,000 units.