Okaya EV announces price hikes for its Faast F-Series electric scooters ¥45,000 from June 1 in line with the central government’s reduction of FAME II subsidies. The company is urging potential buyers to pick up the scooter by May 31 to save on the price-adjusted payment.
The Okaya EV two-wheeler is AIS 156 Phase 2 certified and is equipped with an LFP (lithium iron phosphate) battery that is said to be water and dust resistant. It also claims to have a longer lifespan than NMC batteries. LFP batteries are touted as working well in India’s climate.
The company recently launched the Faast F2F electric scooter, designed and priced according to target groups such as students, young professionals and housewives. A single charge provides a range of 70-80 km and a top speed of 55 km/h, depending on load.
The price adjustment for electric scooters comes as the center has approved a proposal to reduce subsidies for electric two-wheelers from 40% to just 15% from next month. The move sparked a reaction from a manufacturer’s group, which said it would hit electric vehicle sales in India hard.
Electric car maker Ather Energy has also confirmed a price increase starting next month. The company’s chief executive, Tarun Mehta, said the electric vehicle industry now needs to stand on its own, rather than rely on government subsidies.He also pokes fun at how the industry has been on a rollercoaster ride with rising FAME subsidies ¥30,000 in 2019, increased to ¥60,000 in 2021, now suddenly dropped to ¥22,000 by 2023.
First published date: May 23, 2023 at 16:50 PM CST