Hero Lectro says that five of its products will see price reduction under the Delhi Governments EV Policy. Its a direct result of the subsidy and tax exemption announcement by the Delhi State Government.
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Hero Lectro, the electric bicycle brand of Hero Cycles, has announced that five of its products will see a substantial price reduction in Delhi, under the Delhi Government EV Policy. The Delhi Government is strongly encouraging the use of electric vehicles to curb pollution levels in the nation’s capital, and it thus offering subsidy and tax exemption on E-Cycles as well. Hero Lectro expects this move to boost the adaptation of e-cycles with existing brands like Hero Cycles, Geekay Bikes and E-trio as a sustainable and green mobility option.
The Hero products eligible under the EV policy include four personal e-cycles – C6, C8i, F6i, and C5, and one cargo e-cycle, Hero Lectro Winn. All four personal e-cycles will see a price reduction of ₹ 7,500, which includes purchase incentive of ₹ 5,500 and a top-up incentive of ₹ 2000, the latter is only applicable of first 1000 customers. As for the Lectro Winn for the cargo segment, it only gets a purchase incentive of ₹ 15,000.
| EV Model | Range | Max Purchases Price (excluding incentives | Applicable Purchase Incentives | Top-up incentives (For 1st 1000 consumers) | Net on-road price (with purchase incentives and tax exemption | Maximum Scrapping Incentives (on matching basis) |
|---|---|---|---|---|---|---|
| Hero Lectro C6 | 33.72 km | Rs 34,999 | Rs 5,500 | Rs 2000 | Rs 27,499 | – |
| Hero Lectro C8i | 29.95 km | Rs 39,999 | Rs 5,500 | Rs 2000 | Rs 32,499 | – |
| Hero Lectro F6i | 45 km | Rs 54,999 | Rs 5,500 | Rs 2000 | Rs 47,499 | – |
| Hero Lectro C5 | 28.54 km | Rs 30,999 | Rs 5,500 | Rs 2000 | Rs 23,499 | – |
| Hero Lectro Winn (cargo) | 52.72 km | Rs 49,999 | Rs15,000 | Rs 2000 | 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-Cycles more affordable and accessible to a larger segment of society. While most of the models that are covered under the subsidy are primarily used for commute, fitness and micro-mobility needs, the price reduction in our cargo e-bike variant will make the Hero Lectro Winn the most cost-competitive, sustainable option in the hyperlocal delivery ecosystem. As a result of this, we expect to see a boost in economic activity and new sources of income being created.”
Aditya Munjal, Director, Hero Cycles
In fact, even Delhi Transport Minister Kailash Gahlot announced via Twitter that the EV portal for subsidies was live. “Delhi! the portal goes live now, you can now avail your passenger & cargo e-cycle subsidies. First 1000 applicants will get an additional top-up incentive of ₹2000! Find eligible brands & dealers. Let’s #switchdelhi!” he tweeted.
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Electric vehicle sales in Delhi have recorded more than 12 per cent of all vehicle sales since the EV policy’s introduction in August 2020. By 2024, the government projects to have 25 per cent of Delhi’s new car registrations be electric vehicles under its EV program.
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