Okaya EV has announced a price increase for its electric scooters as the Indian government reduces subsidies under the revised FAME 2 scheme. Prices for the Okaya Faast F4, Faast F3, Faast F2B and Faast F2T e-scooters have increased significantly, the electric carmaker revealed in an official press release.
In its official statement, Okaya EV said the price increase was necessary to match the government’s reduction in subsidies for electric scooters.Revised price, Okaya Faast F4 is now on sale ¥139,951 compared to ¥Previously it was 113,999, while Faast F3 is now asking price ¥129,948 compared to ¥104,999 ago. Faast F2B Cost Now ¥110,745, compared to ¥94,999 before and Faast F2T sold for ¥107,903, from ¥91,999.
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Consumers of Okaya Faast F4 e-scooters are eligible for subsidies, electric carmaker says ¥Before 66,000.However, the revised amount for electric scooters has been set at the highest due to the reduced subsidy ¥22,500, which affects the manufacturer’s overall pricing strategy.
Talking about the price increase, Anshul Gupta, managing director of Okaya Electric Vehicles, said the decision to raise prices was driven by the necessity to align with the reduction of subsidies. “The decision to adjust the price of electric vehicles was driven by the necessity to align with the reduction of subsidies. While we understand the impact, which is why we absorb some of the costs that we can afford as an OEM, we remain committed to delivering high quality and sustainable EV Solutions. The revised pricing will allow us to maintain our commitment to affordability while adapting to the changing subsidy landscape,” he said.
First published date: June 3, 2023 at 09:26 AM CST