Hero Lectro says that the prices of five of its products will come down under the Delhi government’s EV policy. This is a direct result of the announcement of subsidies and tax exemptions by the Delhi state government.
Hero Lectro, the electric cycle brand of Hero Cycles, has announced that the prices of five of its products will come down drastically in Delhi as per the Delhi government’s EV policy. The Delhi government is strongly encouraging the use of electric vehicles to reduce pollution levels in the nation’s capital, and thus is offering subsidies and tax exemptions on e-cycles as well. Hero Lectro expects the move to promote the customization of e-cycles as a sustainable and green mobility option along with existing brands like Hero Cycles, Geekay Bikes and e-Trio.
Hero products eligible under the EV policy include four individual e-cycles – C6, C8i, F6i, and C5 and one cargo e-cycle – Hero Lectro Winn. There will be a price reduction of ₹7,500 for all four individual e-cycles, which includes a purchase incentive of ₹5,500 and a top-up incentive of ₹2000, the latter only applicable to the first 1000 customers. For the Lectro Win for cargo segment, it gets a buy incentive of only ₹ 15,000.
| EV model | range | Maximum purchase price (excluding incentives) | applicable purchase incentives | Top-up Incentive (for first 1000 subscribers) | Net On-Road Value (with purchase incentive and tax exemption) | Maximum Scraping Incentive (on matching basis) |
|---|---|---|---|---|---|---|
| Hero Lectro C6 | 33.72 km | Rs 34,999 | Rupee. 5,500 | 2000 rupees | Rs 27,499 | , |
| Hero Lectro C8i | 29.95 km | Rs 39,999 | Rupee. 5,500 | 2000 rupees | Rs 32,499 | , |
| Hero Lectro F6i | 45 km | Rs 54,999 | Rupee. 5,500 | 2000 rupees | Rs 47,499 | , |
| Hero Lectro C5 | 28.54 km | Rs 30,999 | Rupee. 5,500 | 2000 rupees | Rs 23,499 | , |
| Hero Lectro Win (Cargo) | 52.72 km | Rs 49,999 | Rs.15,000 | 2000 rupees | Rs 34,999 | Rs 3000 |
Aditya Munjal, Director, Hero Cycles said, “We wholeheartedly welcome the decision of the Delhi government to include e-cycles as a part of its EV policy in the national capital. The subsidy support will make e-cycle more affordable and accessible to a larger section of the society. While most of the models that come under subsidies are primarily used for commuting, fitness and micro-mobility needs, the price reduction in our cargo e-bike variant makes the Hero Lectro Win the most cost-competitive, sustainable option. Will make Hyperlocal delivery ecosystem. As a result of this, we expect an increase in economic activity and creation of new sources of income.”
Aditya Munjal, Director, Hero Cycles
In fact, Delhi Transport Minister Kailash Gahlot also announced via Twitter that the EV portal for subsidy was live. “Delhi! The portal is now live, you can now avail your passenger and cargo e-cycle subsidy. The first 1000 applicants will get an additional top-up incentive of ₹2000! Find eligible brands and dealers. Let’s #switchdelhi! ” He tweeted.
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Electric vehicle sales in Delhi have registered over 12 per cent of all vehicle sales since the introduction of the EV policy in August 2020. By 2024, the government plans to have 25 percent of Delhi’s new car registrations under its EV program to be electric vehicles.
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