EV Prices Without FAME 2 Subsidy. It's a Now or Never offer
H. Karan Kumar
With technological advancements and government initiatives, EVs have become more accessible to the general public. However, there is a limited window of opportunity for potential buyers to take advantage of significant discounts and subsidies. In this article, we will explore why now is the best time to buy an electric vehicle and how ending FAME 2 subsidies could impact EV market and prices.
Understanding FAME 2 Subsidies
The Faster Adoption and Manufacturing of Electric Vehicles in India (FAME) scheme was launched by the Indian government to promote the adoption of electric vehicles. The scheme’s second phase, known as FAME 2, provides subsidies and incentives for the purchase of electric two-wheelers, three-wheelers, and four-wheelers. However, these subsidies are available only until 31 March 2024 or until the allocated funds are depleted.
E-Vehicle | Price with subsidy | Price without Subsidy |
Ola S1 Pro | 1,52,423 | 1,74,856 (+22,424) |
Ather 450X | 1,44,923 | 1,67,407 (+22,485) |
TVS IQube S | 1,40,025 | 1,62,090 (+22,065) |
Bajaj Chetak | 1,35,463 | 1,56,613 (+21,150) |
Nexon EV | 16,99,000 | 19,85,000 (+2,86,000) |
Source: FAME 2 Doucment
Uncertainties Surrounding Future Subsidies
One of the primary reasons why now is the best time to buy an electric vehicle is the uncertainty surrounding the continuation of subsidies. The government has allocated only Rs 7,048 crore for electric two-wheelers, three-wheelers, and four-wheelers. Once these funds are depleted or after 31 March 2024, the availability of subsidies is uncertain. Therefore, potential buyers must take advantage of the current subsidies before they expire.
The Benefits of Owning an Electric Vehicle
Purchasing an electric vehicle offers numerous benefits, making it an attractive option for environmentally conscious individuals and those seeking long-term cost savings. Here are some of the key advantages of owning an electric vehicle:
- Environmental Sustainability: Electric vehicles produce zero tailpipe emissions, reducing air pollution and greenhouse gas emissions. You can contribute to a cleaner and greener environment by switching to an electric vehicle.
- Lower Operating Costs: Electric vehicles have lower operating costs than traditional internal combustion engines. Electricity is significantly cheaper than gasoline or diesel, resulting in lower fuel expenses. Additionally, electric vehicles require less maintenance due to fewer moving parts, reducing servicing and repair costs.
- Energy Independence: Electric vehicles rely on electricity as their primary fuel source. Countries transitioning to electric vehicles can reduce their dependence on imported fossil fuels, contributing to energy independence and national security.
- Long-Term Savings: While the upfront cost of electric vehicles may be higher than traditional vehicles, the long-term savings can outweigh the initial investment. With lower fuel and maintenance costs and potential tax incentives and subsidies, electric vehicle owners can save money over the vehicle’s lifetime.
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The Future of Electric Vehicles in India
The ending of FAME 2 subsidies does not signify the end of the electric vehicle revolution in India. The government remains committed to promoting electric mobility and has set ambitious targets for electric vehicle adoption. The National Electric Mobility Mission Plan (NEMMP) aims to achieve 30% electric vehicle penetration in India by 2030. This indicates a growing market for electric vehicles and a conducive environment for their long-term sustainability.
Additionally, advancements in battery technology, increased charging infrastructure, and improved range capabilities are further driving the adoption of electric vehicles. As technology evolves, electric vehicles will become even more affordable, efficient, and accessible.
Conclusion
If you have considered purchasing an electric vehicle, now is the best time to act. With the ending of FAME 2 subsidies, potential buyers have a limited window of opportunity to take advantage of significant discounts and savings. Leading EV manufacturers are offering exclusive deals and incentives, making electric vehicles more affordable than ever before.
By purchasing an electric vehicle now, you can contribute to a cleaner environment, enjoy long-term cost savings, and be a part of the electric vehicle revolution in India. Don’t miss out on this opportunity to drive towards a sustainable future. Act now and make the switch to an electric vehicle.
Featured Articles
Bounce Infinity E1 Price, Range, Specs, & Features – 2024
H. Karan Kumar
Updated on Sept 19, 2023 | 6 min read
Bounce Infinity at a glance:
The Bounce Infinity E1 electric scooter is a compelling choice for eco-conscious commuters seeking a blend of style, performance, and affordability. With its sleek design, impressive range, and a host of smart features, the E1 promises a delightful riding experience in the urban jungle.
At the heart of the E1 lies a robust 2 kW motor that delivers a spirited 55 kmph top speed, ensuring you easily navigate city streets. The scooter’s 2.5kWh Li-ion battery boasts a remarkable range of up to 100 km, keeping you on the move without range anxiety. Moreover, the E1 features regenerative braking, which intelligently converts braking energy back into battery power, extending your range further.
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Bounce infinity specifications:
Bounce Infinity Dimensions:
| Kerb weight | 94kg |
| Load Capacity | – |
| Seat height | 780mm |
| Wheel-base | 1260mm |
| Ground clearance | 155mm |
Bounce Infinity Dimensions:
Kerb weight | 94kg |
Load Capacity | – |
Seat height | 780mm |
Wheel-base | 1260mm |
Ground clearance | 155mm |
Bounce infinity features
- Drive Modes: Eco, Power and Turbo,
- Cruise Control
- Turbo Mode with Hill Assist
- Over Temperature Audio Alarm
- Digital Console
- Smartphone app support
- Combi Brake System
- 12 L boot space.
- Regenerative Braking system
Bounce Infinity price and warranty:
With a 100km range and 55km/h top speed, this scooter comes among the average segment electric scooters. The Bounce Infinity E1 is priced at ₹1,12,999/- ex-showroom, but you don’t need to pay all upfront.
Now, Lease the Bounce E1 electric scooter for an easy monthly fee and enjoy perks like free maintenance, charging support, insurance, and much more.
Bounce Infinity E1 Warranty:
Bounce Infinity comes with the best-in-class warranty for both vehicle and battery. Vehicle alone comes with 3 yrs/40000* Kms, whichever comes first. Battery alone comes with 3yrs/45000* Kms, whichever comes first.
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How to book bounce infinity:
You can book the scooter by pre-booking it on the website and get it delivered by visiting the nearest Bounce Infinity showroom, but paying the full upfront cost is unnecessary. Now lease the Bounce Infinity electric scooter from Zecat and own the scooter for an easy monthly fee.
Here’s how to lease Bounce E1:
- Click on the button,
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