Engineering firm Greaves Cotton's e-mobility subsidiary Ampere Vehicles on Friday announced a price cut of up to Rs 5,000 on its e-scooters in the wake of government reducing GST on EVs to 5 per cent from 12 per cent earlier. Following the downward price revision, the company's flagship high-speed e-scooter Zeal will now cost Rs 67,000 as against Rs 72,000 (ex-showroom Bangalore) earlier, the Coimbatore-based Ampere Vehicle said in a release. This Ampere Zeal price also includes FAME (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles)-II incentives. Similarly, the price of the Rio LA e-scooter has been slashed by Rs 3,000 to Rs 40,000 and that of the Rio Li e-scooter to Rs 52,500 from Rs 56,000 earlier, the company said. The Ampere's V-48LI scooter will now cost a customer at Rs 50,000 as against Rs 53,000 earlier, it said.
Last week, the GST Council announced slashing of the GST rate on EVs to 5 per cent from 12 per cent to boost the sales of these vehicles in the country. Greaves Cotton had on July 15 announced it hiking of its stake in Ampere Vehicles to 81.23 per cent from 67.34 per cent by investing an additional amount of Rs 38.49 crore.
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