Upcoming Subsidy Reduction on EVs – Buy Before March to Save!
The government is set to reduce the ₹10,000 subsidy on electric vehicles after March. If you’re considering purchasing an EV, now is the best time to do so to take advantage of the current subsidy and save money.
Battery Cost Reduction – A Game Changer
Recent reductions in import duties have led to a significant decrease in battery manufacturing costs. For instance, Ola’s 3kWh and 4kWh battery packs now cost ₹35,000-₹48,000, compared to ₹87,000 earlier. This price drop makes EVs more affordable than ever before.
Top 5 EV Scooters to Buy Before the Price Hike
- Bajaj Chetak ✅
- Available in multiple battery variants
- Top speed: 73 kmph
- Range: 153 km
- Price: ₹1.38L – ₹1.43L
- Expected price hike: ₹5,000 post-March
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Ola S1 Pro Gen 3 ⚠️
- Top speed: 125 kmph
- Range: 242 km
- Price: ₹1.39L – ₹1.50L
- Pros: Feature-rich with MoveOS 5
- Cons: Service network and showroom documentation issues
-
Ather 450X 🏆
- High R&D quality
- Top speed: 80 kmph
- Range: 123 km
- Price: ₹1.23L
- Pros: Smooth and practical ride
- Cons: Dealer service varies by location
-
TVS iQube 💰
- Features BLDC motor
- Range: 75-100 km
- Price: ₹1.17L – ₹1.29L (₹15,000 cashback & extended warranty available)
- Best for budget buyers
-
Vida V1 🔌
- Removable battery for convenient home charging
- Range: 165 km
- Price: ₹85K – ₹1.35L
- Pros: Great for people without fixed charging spots
- Cons: Fixed batteries tend to be more durable
Future of EV Prices & Manufacturing
While government incentives for manufacturers will help reduce EV prices in the long run, a short-term price increase is expected due to the subsidy reduction. If you’re planning to buy an EV, delaying your purchase could result in higher costs.
Final Advice: Buy Before March or Pay More Later! ⏳
To make the most of the existing ₹10,000 subsidy, purchasing an EV before March is highly recommended. Act fast before prices rise next month due to subsidy cuts!