TVS Motor Company has recently announced that it will increase the prices of its iQube and iQube S electric scooters following the revision of the FAME 2 (Faster Adoption and Manufacturing of Electric Vehicles) policy. The price hike is expected to be in the range of Rs 17,000 to Rs 22,000. Manu Saxena, Senior Vice President – Electric Vehicles, TVS Motor Company, expressed that the TVS iQube range of scooters achieved a significant sales milestone of 100,000 units in the previous financial year.
In response to the price hike, TVS Motor Company has introduced a loyalty benefit program for customers who had made bookings for the TVS iQube until May 20, 2023. This program aims to alleviate the cost burden resulting from the FAME II subsidy revision. Additionally, new customers will also be able to avail the new prices without bearing the full impact of the FAME II revision if they book the vehicle starting from June 1, 2023.
The price increase for the TVS iQube range, effective from June 1, 2023, will vary depending on the variant, with the hike falling within the range of Rs 17,000 to Rs 22,000. TVS Motor Company aims to provide transparency and inform customers in advance about the revised prices to ensure a smooth transition.
To provide further benefits to its customers, TVS Motor Company is extending an additional loyalty benefit for those who pre-booked the iQube and iQube S electric scooters before May 20, 2023. Customers who made bookings until May 20 will be able to purchase the iQube at Rs 134,248 and the iQube S at Rs 146,915. However, bookings made from May 21 onwards will be priced at Rs 141,248 for the iQube and Rs 156,355 for the iQube S.
The FAME 2 revision aims to encourage the adoption of electric vehicles by providing subsidies and incentives. While the revision has led to a price increase for the iQube and iQube S electric scooters, it is also indicative of the growing popularity and demand for electric vehicles in the market. TVS Motor Company has been proactive in its efforts to offer eco-friendly mobility solutions and has experienced success with the iQube range.
The TVS iQube and iQube S are notable for their advanced features, superior performance, and eco-friendly nature. These electric scooters have gained popularity among consumers who seek sustainable transportation options without compromising on style and functionality. With the iQube range, TVS Motor Company has made significant strides in the electric vehicle segment and aims to further consolidate its position in the market.
As the transition towards electric mobility gains momentum, TVS Motor Company remains committed to providing reliable and innovative solutions to meet the evolving needs of consumers. The price hike for the iQube and iQube S is a strategic move to align with the revised FAME 2 policy and ensure the sustainability of the electric vehicle ecosystem. With its customer-centric approach and commitment to technological advancements, TVS Motor Company continues to contribute to the development of a greener and more sustainable future.
In conclusion, TVS Motor Company’s announcement of a price hike for the iQube and iQube S electric scooters following the revision of the FAME 2 policy reflects the company’s commitment to the growth and expansion of the electric vehicle market. The introduction of the loyalty benefit program and transparent pricing aims to support existing and new customers in their transition to electric mobility. As TVS Motor Company continues to innovate and adapt to changing market dynamics, it remains at the forefront of the electric vehicle revolution in India.
