FAME-II subsidy revision impact: TVS iQube price slashed, costs Rs 1.01 lakh in Delhi

Following the recent increase in subsidy for electric two-wheelers under the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles II (FAME II) initiative, prices of the TVS iQube have been cut by a notable Rs 11,250. TVS’ first all-electric scooter – which debuted early in 2020 – has so far been on sale in just two Indian cities – Bengaluru and New Delhi. Previously, the TVS iQube’s on-road price in Bengaluru was Rs 1,21,756, but post the policy revision, that has been lowered to Rs 1,10,506. The TVS iQube has a 2.25 kWh lithium-ion battery, which meant it was previously eligible for Rs 22,500 in incentives under the FAME II scheme. However, the revised subsidy structure pegs the incentive at Rs 15,000 per kWh (up from Rs 10,000 per kWh), which means the iQube is now eligible for a total incentive of Rs 33,750, and TVS is passing on all of the benefit to the buyer. Ather Energy has already announced a similar price drop for its e-scooters, lowering their end cost by Rs 14,500. [caption id=“attachment_9720411” align=“alignnone” width=“1137”]  The TVS iQube will go on sale in 18 more cities this year. Image: TVS[/caption] In New Delhi – where the government offers an additional subsidy of Rs 11,250 – the iQube is even more affordable. For buyers in the national capital, the TVS iQube’s price on the road has come down from Rs 1,12,027 to Rs 1,00,777, which means it’s also notably more affordable than the entry-level Ather 450 Plus, which costs Rs 1,13,416 (ex-showroom). The iQube’s hub-mounted motor – sourced from Bosch – has a peak power output of 6 hp (4 hp continuous), and the TVS iQube’s range is pegged at 75 kilometres in Eco Mode, and 55 kilometres in power mode. The e-scooter takes a claimed 4.2 seconds to get to 40 kph from standstill, and it’s in the power mode where the rider can whip the iQube to its claimed top speed of 78 kph. With the home charger TVS provides with the iQube, it takes around five hours to fully charge the scooter’s battery, but there is no fast-charging option. It rides on 12-inch wheels at both ends, is equipped with a 220 mm disc brake up front (drum brake at the rear) and weighs 118 kg. Suspension duties are handled by a telescopic setup at the front and dual shock absorbers at the back. In terms of equipment, the iQube comes with all-LED lighting, a TFT colour display with Bluetooth and a variety of connectivity features. The TVS iQube will soon be available in 18 more cities across India, with Manu Saxena, Vice President, Future Mobility & Dealer Transformation, TVS Motor Company, confirming the scooter will be on sale in 20 cities in 2021. Chennai, Coimbatore, Mumbai and Pune will be among the cities the iQube will make its way into in the coming months, among others. Also read: Ather Energy eyes Tier 2 expansion, maxing output post 'spectacular' FAME-II subsidy revision