Hero Electric slashes prices of its popular models by up to 33%

Electric two-wheeler maker Hero Electric on Friday said it has slashed the prices of its popular model by up to 33 per cent after increasing the subsidy under the FAME 2 scheme. After amending the ‘Faster Adoption and Manufacturing of Electric Vehicles (FAME-2)’ policy, introduced to give a boost to the manufacturing of electric vehicles in the country, the company said that it is giving price-linked benefits to the customers accordingly. is.

The company said in a statement that the price of its one-battery Photon HX model has been slashed by 12 percent while that of the three-battery NYX HX model by 33 percent. With this, now Photon HX will be available for Rs 71,449 as compared to Rs 79,940 earlier while NYX HX will be available for Rs 85,136 as compared to Rs 1,13,115 earlier. At the same time, Optima ER will now be available for Rs 58,980 as against Rs 78,640 in the past.

The company’s CEO Sohinder Gill said, “The change in subsidy on batteries and electric vehicles under the FAME 2 policy is the step that the industry needed to accelerate the sales of electric vehicles.” It is worth noting that the government had recently made partial amendments in the FAME India-2 scheme launched to manufacture and use electric vehicles in India faster.

Under this, the demand incentive for electric two-wheelers was increased to Rs 15,000 per unit (kWh) of capacity. Earlier there was a subsidy of Rs 10,000 per unit for all electric vehicles. These include plug-in hybrid and strong hybrid vehicles. Buses are not included in this.

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