Ampere Primus, Magnus EX prices hiked by up to Rs 39,100 after FAME II revision

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Greaves Electric Mobility’s electric two-wheeler brand, Ampere Electric, has announced a price increase of up to ¥It has 39,100 in its line of electric scooters. With the revision of the FAME II subsidy from 1 June 2023, electric two-wheeler manufacturers have announced new prices for their respective products. Ampere joins the list, Primus, Magnus EX, and Zeal EX increase in price.

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Sameer Fayaz Contractor

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Updated on:
June 1, 2023 at 20:08 pm


Ampere Primus gets the highest price increase and is close to the price of Ola S1 Pro, Ather 450X, etc.

Ampere Zeal EX price increases under FAME II subsidy revision ¥20,900 pieces, now retails for ¥95,900, while Magnus EX is more expensive ¥21,000, currently sold at ¥105,000.The top-spec Ampere Primus has a maximum price increase of ¥39,100, the current price is ¥149 thousand. All prices are ex-showroom prices. Of course, the Ampere series has lost its cost advantage significantly and is now very close to the prices of Ather 450X, Ola S1 Pro, Bajaj Chetak, etc.

Also read: Govt asks Greaves Electric Mobility to return ¥Over 1.24 billion FAME II violations

Ampere parent company Greaves Electric Mobility is also under scrutiny by the Ministry of Heavy Industries for violating the PMP guidelines under FAME II

Ampere parent company Greaves Electric Mobility is also under scrutiny by the Ministry of Heavy Industries for violating the PMP guidelines under FAME II

In May this year, Ampere was the fifth largest electric two-wheeler maker after Ola, TVS, Ather and Bajaj Auto. The company sold 9,632 units last month, up 12% month-on-month. However, it needs to be observed how the price increase affects the electric two-wheeler market. It will be interesting to see if models like the Magnus EX and Primus benefit from the collective price increase as the rest of the range moves further up.

In addition to subsidy reductions, Greaves Electric is also dealing with allegations of breaches of Phased Manufacturing Program (PMP) guidelines under the FAME II scheme.The Ministry of Heavy Industry sent a letter to Greaves Electric to return the goods ¥1.24 billion plus the company’s claimed interest as a subsidy. In addition, the ministry is considering canceling the company’s subsidy program for non-compliance. In a statement, Greaves Electric said it was working with the government to understand the breach and take the necessary steps to correct it.

Apart from Ampere, other EV makers including TVS, Ola Electric and Ather Energy have also announced price hikes under the latest FAME II subsidy standard. Hero Electric was the only exception that did not pass on the subsidy reduction to customers.

First published date: June 1, 2023 at 20:08 PM CST

https://auto.hindustantimes.com/auto/electric-vehicles/ampere-primus-magnus-ex-prices-hiked-by-up-to-rs-39-100-after-fame-ii-subsidy-revision-41685626186437.html

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