Imagine you buy an electric scooter and then there's news of you getting refunded for the charger after a few months of purchase this is exactly what is happening right now but why?
In today's article, I am explaining to you how the fame to policy works what the Mandate was given to EV manufacturers, and as a result, what kind of refund you can expect if you have bought an electric two-wheeler First let's understand the basics to promote EVS in India.
The Indian government has launched a policy called Fame which stands for faster adoption and manufacturing of hybrid and electric vehicles in India under the second iteration of this policy known as Fame 2 the threshold limit to be eligible for subsidy is rupees 1.5 lakhs for electric two-wheelers.
This basically means that in order to get the subsidy which is either 40 or the actual room price of the scooter or rupees 15000 per kilowatt hour of battery capacity turns out to be around rupees 50 000 per scooter the price of the electric scooter cannot exceed rupees 1.5 lakhs.
This has been done to ensure that only Mass Market electric scooters get a subsidy but why is the government offering subsidies when you buy an electric two-wheeler simply to promote electric vehicle penetration in India as EVS are new and batteries are expensive due to the low economies of scale
So why the refund as per the Fame 2 policy in order to get the subsidy the total X Factory price of the vehicle shouldn't exceed rupees 1.5 lakhs to the customer you said that already however Brands like Ola ether and Heroes Vida price the electric scooters very close to the rupees 1.5 lakh threshold and then build the customers separately for the Chargers.
Thereby milking them meanwhile TVs managed to price its IQ much more closer to the threshold limit of rupees 1.5 lakhs thereby resulting in a much smaller impact on the customer the news of separately being charged for the charges came to light and the government ordered the two-wheeler companies to refund the cost of the charges to the customers with immediate effect the impact turns out to be huge for Brands like Ola ether in fact Ola has announced.
It will spend rupees 130 crores to refund charger money to its customers and Ether has announced a similar amount as part of the fund meanwhile, TVs faces the least impact and will spend around rupees 20 crores to refund the amount that was over and above the threshold amount of rupees 1.5 lakhs as their IQ is priced very close to the fame to subsidy threshold thereby requiring minimum refunds to the customer.
This refund amount will also vary as the total price charged
to the customer is also dependent on the city of purchase
and the variant purchase TVs did play its smart by getting
the pricing right for its electric scooter and now plans to give the charger a
standard with the scooter the Eva adoption is a prerogative set by the
government of India and strict adherence to the fame to guidelines are a step
in this Direction.
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