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New Delhi. Hero MotoCorp, one of the leading two-wheeler companies, has increased the price of its electric scooter Vida V1 Pro by around Rs 6,000. The company has taken this step after the central government reduced the subsidy for electric vehicles. Due to the reduction in subsidy, many other electric two-wheeler companies have also increased the prices.
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Vida V1 Pro will be priced around Rs 1,25,900 (ex-showroom) in cities like Delhi, Ahmedabad, Vadodara and Surat. This price includes FAME II subsidy and a portable charger. The Ministry of Heavy Industries has reduced the maximum subsidy for electric two-wheelers from 40 per cent to 15 per cent of the ex-factory price. However, Hero MotoCorp has only passed on some of the burden of the reduction in subsidy to the customers.
Last year, the company launched its first electric scooter Vida V1 in two variants. The company plans to launch electric two-wheelers in various price segments. The company has increased the pace of its plan for EV. Under this, new electric two-wheelers will be launched in various segments. Hero MotoCorp plans to launch electric scooters as well as motorcycles.
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Sales of electric two-wheelers have increased in the last few years. However, Hero MotoCorp has delayed its entry into the segment, which has benefited startups like Ather Energy and Ola Electric. Hero MotoCorp had invested in a few electric vehicle startups before launching its first model in the segment. E-scooters and e-bikes account for a little over two per cent of the total two-wheeler sales in the country. Hero MotoCorp’s sales last month increased by seven percent to 5,19,474 units.
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It was 4,86,704 units in the same period last year. The company expects the sales growth to continue in the coming months on the back of normal monsoon forecast and new launches. The company’s motorcycle sales stood at 4,89,336 units. It was 4,52,246 units in the same month last year. However, its scooters sales declined to 30,138 units as against 34,458 units in the same period last year. The company has sold 5,08,309 units in the country.
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