TVS iQube ex-showroom price rises by roughly Rs 9,000 because it now comes with a charger as standard.

Following the government’s directive, electric two-wheeler producers have started including the charger as part of standard equipment.

Earlier, a number of of the main OEMs together with TVS required customers to pay additional for the charger. With the price of charger included, TVS iQube is now available at Rs 1.21 lakh (effective on-road, Bengaluru).

Prices of iQube will differ based mostly on availability and quantum of state subsidy. Central subsidy below FAME II is Rs 51,000 for iQube. Karnataka is among the many states that no longer offer state subsidy.

iQube in Delhi is eligible for a state subsidy of Rs 17,000. Efficient on-road price of iQube in Delhi is Rs 1.06 lakh.

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TVS iQube new costs

When the charger was not provided as standard, TVS iQube was accessible at a beginning value of Rs 1.56 lakh. With the 650-watt charger now included, iQube base variant is now accessible at a beginning price of Rs 1.66 lakh (ex-showroom, excluding FAME-II subsidy).

For iQube S variant, ex-showroom price is now Rs 1.68 lakh. Right here additionally, costs have been elevated by around Rs 9,000. With the FAME II subsidy, efficient on-road value of iQube S variant is Rs 1.32 lakh.

iQube S customers might want to pay additional Rs 9,440, which is charged for software improve.

Whereas technically the prices of iQube have elevated, customers will probably be paying virtually the same amount as earlier.

The one distinction is that cost of charger is now included in the price of automobile. So, there is no extra value burden on iQube prospects.

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TVS to refund iQube owners

Following government’s directive, OEMs like TVS, Ather Power, Ola Electric and Hero MotoCorp have decided to refund any amount that was charged in excess of Rs 1.50 lakh.

TVS liabilities are relatively much less on this context, as iQube ex-showroom price was lower than a number of of its rivals. At most locations, iQube was priced just a little above Rs 1.50 lakh.

The average quantity paid over Rs 1.50 lakh is round Rs 1,700 per scooter. Total refunds to be issued by TVS is around Rs 15-16 crore.

It’s a bit unsettling to see the issues linked to FAME II subsidy. The electric two-wheeler section is just beginning to collect pace and such points can create problems.

One latest example is 23 p.c drop in MoM growth in April 2023. In case of iQube, it had achieved the 1 lakh cumulative gross sales milestone in April.

However, its MoM development fell by 48 %. Based on TVS, the drop is because of lowered manufacturing, triggered by ‘AIS-156 changeover and supply chain challenges’.

It will be significant that OEMs follow moral practices to create trust and confidence amongst prospects. Whereas the charger issue appears to be largely resolved with the refund plan, such things mustn’t have occurred within the first place.

The fact that the matter was identified through whistle blower emails raises several questions.

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