BUSINESS

Amid FAME II Subsidy Revisions, TVS will redesign the low-cost version of the iQube electric scooter

As a result of recent changes to the FAME II subsidy program that are expected to fundamentally alter the electric vehicle (EV) market, well-known electric scooter producers like Ather, Ola, and TVS are deliberately shifting their attention to the development of more economical models with smaller batteries.

Leading the pace and trying to meet the rising demand for affordable EV solutions, TVS has exciting plans to remodel its well-known iQube electric scooter.

The Standard iQube and the mid-spec iQube S, both of which come with a 3.04 kWh battery capacity, are the two versions of the iQube scooter that are now available on the market. According to a recent report by Rushlane, however, TVS is currently preparing to carve out a new and more affordable form of the iQube, expected to have a battery capacity lower than 3 kWh.

A top-spec variation, the iQube ST, which has not yet hit the market, was also revealed by TVS. According to reports, the iQube ST’s battery capacity is 4.56 kWh. The introduction of the top-of-the-line model is still uncertain, however, since the corporation will need to offset the FAME II subsidy modifications.

According to the most recent FAME II report, the per-kWh subsidy has been decreased from Rs. 15,000 to Rs. 10,000. Additionally, this change sets a 15 percent subsidy maximum in accordance with their ex-showroom prices. This was previously thought to be approximately 40%. This is the rationale behind EV manufacturers’ decision to focus on developing less priced electric scooters.

TVS may save costs in the features area in addition to the battery pack. The TVS iQube’s basic model has enhanced navigation telematics as well as anti-theft features and Geofencing. It boasts a 7-inch TFT touchscreen with the ability to customize themes, Alexa functionality, and voice assistance. This TFT touch screen may be swapped out with a less complex one in the less priced iQube variant to save money.

The TVS iQube is now the second-most popular two-wheel EV vehicle on the market. IQube sold as many as 20,396 units in May. After the FAME II subsidy changes, however, the numbers started to fall. Only 5,253 units were sold by iQube in June, a decrease of 15,143 units in a single month. The Base iQube Standard is now offered for Rs. 1.55 lakh (ex-showroom), but the revised model may cost as little as Rs.

 

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