Hero Electric Reduces Prices Of Its EVs By Up To 33 Per Cent

Hero Electric too has released updated prices for its electric scooters, which see a price drop of up to 33 per cent. Earlier, the government had revised the FAME II policy, by increasing subsidy on batteries by 50 per cent, to the tune of Rs. 15,000 per kWh and increasing the incentive level to 40 per cent of the total cost of the vehicle, which was previously at 20 per cent. Refer to the table below for updated prices. Do note, all prices are ex-showroom.

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"The revision in subsidies on batteries and EVs overall under the FAME policy is just the move the industry needed to drive adoption of electric vehicles. Having had one of the best years in terms of sales despite the pandemic last year is a testimony that the market is ripe for a major push towards shifting towards a cleaner mobility solution. We have seen a major spurt in the adoption of our CITY SPEED SERIES in the last two years and with this additional subsidy, we expect a multi-fold increase in the sale of such models. With such industry friendly moves from the policy makers, we expect the market to further touch 5-7 million units on road over the next 5 years.", Sohinder Gill, CEO Hero Electric said.

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(The Hero Electric Nyx-HX triple battery electric scooter sees a price drop of 33 per cent or Rs. 27,979 on its ex-showroom price)

The Hero Electric NYX HX, NYX ER and the Optima ER see a drop of 33 per cent in their prices with the NYX HX seeing a drop of Rs. 27,979. The NYX ER and the Optima ER see a price drop of Rs. 20,986 and Rs. 19,660 respectively. Hero Electric joins other EV manufacturers such Okinawa, TVS, Ather, Ampere in reducing prices of its models, thanks to the FAME II amendment.