TVS iQube low cost variant launch soon as FAME subsidy slashed
TVS Motor Company is reportedly developing a low cost version of their iQube electric scooter. With the reduction of government subsidies under the FAME 2 scheme, TVS aims to make electric mobility more affordable for the Indian market.
The new variant is expected to feature a smaller battery and potentially fewer features, catering to cost conscious consumers. While specific details about the upcoming model are limited, industry experts anticipate this move will bolster TVS’s position in the growing electric two-wheeler segment.
The recent reduction in FAME 2 subsidies, which heavily impacted electric vehicle sales in June 2023, has prompted TVS to rethink its approach. With smaller subsidies, manufacturers face the challenge of offering competitively priced EVs while maintaining profitability. Consequently, TVS has decided to explore the use of smaller battery packs in its electric scooters to address this issue effectively.
By opting for a smaller battery pack in the low cost iQube variant, TVS aims to significantly reduce manufacturing costs without compromising the scooter’s performance. The current iQube lineup consists of the standard iQube and iQube S models, both equipped with a 3.04 kWh battery. However, the fate of the upcoming iQube ST, featuring a larger 4.56 kWh battery, remains uncertain given the reduced subsidy scenario.
To further reduce costs, TVS may also consider making changes in the features offered on the low cost iQube variant. It is expected that the company might opt for a simpler display or make other feature adjustments in the affordable version. However, specific details regarding feature modifications have not been disclosed by TVS yet.
While an exact launch timeline for the low cost iQube variant has not been revealed, TVS has disclosed plans to introduce a premium and sporty electric scooter in the near future. Speculation suggests this upcoming e-scooter could be based on the TVS Creon concept, showcased at the 2018 Auto Expo.