The recent implementation of the Electric Vehicle (EV) Policy in Delhi is set to bring significant changes to the electric cycle market, with prices expected to drop dramatically. If you’re considering purchasing an electric cycle, this could be the perfect time to wait, especially if you’re based in Delhi. Prices of electric cycles, which are currently priced around ₹31,000, could be slashed to as low as ₹16,000 in the near future due to this policy.
Why Electric Cycle Prices are Set to Drop
The new EV Policy in Delhi includes a subsidy and tax exemptions for electric vehicles, including electric cycles. As a result, several electric cycle brands are reducing their prices significantly to pass on the benefits to consumers. Hero Lectro, the electric bicycle division of Hero Cycles Limited, has announced that, thanks to the new policy, they will cut the prices of their products by up to ₹15,000 in the capital.
Hero Lectro’s Price Reduction Breakdown:
Hero Lectro has confirmed that prices for several of its models will be reduced as follows:
- C6, C8i, F6i, and C5 versions: These models will see a price reduction of ₹7,500 each due to the subsidy and tax exemptions.
- Cargo Win (Cargo Version): This model will experience the largest price reduction of up to ₹15,000, bringing its effective price down to ₹34,999.
The price cuts are a direct result of the support provided by the Delhi government’s EV policy, aimed at promoting green and sustainable transportation options.
Impact on Consumers
This move is a huge step forward in making electric cycles more affordable for the general public. According to Aditya Munjal, Director of Hero Cycles, the subsidy support will make e-cycles more accessible, allowing a larger segment of the population to take advantage of these eco-friendly alternatives for commuting. The government’s backing is expected to encourage more people to choose electric cycles, contributing to a cleaner, greener Delhi.
The Future of E-Cycles in Delhi
With this policy in place, e-cycles are becoming an increasingly attractive option for commuters. Not only will they be affordable, but they also offer a sustainable alternative to traditional fuel-powered vehicles, contributing to reduced pollution levels. For those looking for an eco-friendly, cost-effective mode of transport, electric cycles are set to become a mainstream choice.
