Ahmedabad-based startup Matter hikes the price of its electric motorcycle Aera ¥30,000 after the center reduced benefits under the FAME II EV subsidy program starting this month. Matter Aera electric motorcycle, launched in India in March, priced at ¥The cost of 144,000 (ex-showroom) will increase by about 20% from 6 June. Until then, the EV startup is offering discounts to customers who pre-order the e-bikes by June 6.
According to the latest price increase, Matter Aera will be priced from ¥174,000 (ex-showroom) and will rise to ¥184,000 (ex-showroom). Matter has launched two models of the Aera electric motorcycle, dubbed the 5000 and 5000+.The price of the high-end 5000+ version is ¥154,000 (ex-showroom).However, if booked before June 6, up to ¥50,000.
Pre-orders for Matter Aero are underway in 25 cities across India, including Hyderabad, Chennai, Mumbai, Ahmedabad, Delhi NCR and Kolkata.
The decision to increase the price of electric motorcycles within two months of launch follows the Centre’s decision to reduce benefits under the FAME II EV subsidy scheme. The FAME II program used to offer a 40% incentive for people buying electric vehicles. As of today, it has been revised to only 15%.
Matter was one of the electric two-wheeler makers to announce a price hike following the central decision. Among them, Ola Electric has revealed the new price list of its S1 and S1 Pro electric scooters.
The Matter Aera is the country’s first geared e-bike with a four-speed ultra-variable gear, which it claims can go from 0 to 60 km/h in under 6 seconds. The mileage is claimed to be 25 paise per kilometer. It draws power from a liquid-cooled battery and powertrain that aid in thermal management. The bike can travel 125 kilometers on a single charge. It has Internet-enabled connectivity technology and a 7-inch touchscreen.
First published date: June 1, 2023 at 11:42 AM CST