TVS iQube Becomes Expensive in India After Fame II Subsidy Revision; Check Updated Prices

TVS Motor Company has raised the prices of the iQube EV. The two-wheeler manufacturer has announced the price increase in response to the Fame II subsidy revision. Depending on the scooter version, a price increase of between Rs 17,000 and Rs 22,000 is in force as of June. The manufacturer has released the most recent prices, just for New Delhi. Numerous manufacturers have raised the pricing of their vehicles to mitigate the burden following the most recent change to the Fame II subsidy. Like some of its competitors, TVS is also increasing the price of its model by up to Rs 22,000. Customers who reserved an iQube electric scooter before May 20 of this year would pay Rs 1.16 lakh for the standard model and Rs 1.29 lakh for the iQube S. The standard iQube model costs Rs 1.23 lakh, while the iQube S variant costs Rs 1.38 lakh, for customers who made their reservations starting on May 21, 2023. Clients who booked the vehicle before May 20 will, on average, pay less than those who started making reservations on May 21. All prices are on road-Delhi.

Also Read: 2023 TVS Young Media Racer Program - Answering a very important question

TVS iQube Electric Scooter: New Prices

Before the price hike announcement, the starting price of the EV was Rs 1.06 lakh (all prices are of Delhi, on the road).

TVS iQube Electric Scooter Price Hike: What the Company Has to Say?

Sharing his views on the announcement, Manu Saxena, Senior Vice President – Electric Vehicles, at TVS Motor Company stated, “TVS Motor is spearheading the EV transformation narrative in the country. Backed by this electrification journey, TVS iQube recorded a sales milestone of 1,00,000 units for its range of scooters in the last financial year, which is a testament to its strong community of happy customers.''

He further shared, ''In line with TVS Motor’s commitment of being customer-centric, the company will offer a loyalty benefits programme for the customers of TVS iQube who have made bookings till May 20, 2023, for a limited period to ease the cost burden post the revision in FAME II subsidy. Additionally, new customers can also avail of new prices without having to bear the full burden of FAME II revision on booking the vehicle starting June 1, 2023. After the FAME II revision TVS iQube‘s price increase from June 1, 2023, will be in the range of Rs. 17,000 – Rs. 22,000 depending on the variant. TVS Motor is also extending an additional loyalty benefit to its customers who have pre-booked before May 20, 2023.''

Also Read: 2023 Petronas TVS One Make Championship: TVS Eurogrip Tyres to Continue as Technical Partner

TVS iQube Electric Scooter: Loyalty Benefits Programme

For iQube customers who made their reservations before May 20, this year, the manufacturer offers a loyalty benefits programme. The TVS iQube and the iQube S will be available for orders placed up until this point for Rs 1.16 lakh and Rs 1.29 lakh, respectively (both rates are for on-road, Delhi ). Buyers who ordered a TVS iQube or iQube S before May 20 of this year will be able to save around Rs 7,000 or Rs 9,000, depending on the model.