After the GST rates on electric vehicles cut their product prices, all companies that manufacture electric vehicles are announcing a reduction. The electric two-wheeler manufacturer Okinawa has also announced a reduction in the prices of its vehicles, said a statement issued by Okinawa, adding that the price of its electric scooters has been reduced by Rs 8,600. The price of Okinawa-led battery-based scooters has been cut from Rs 2,500 to Rs 4,700 and the prices of Li-Ion-ion-battery scooters range from Rs 3,400 to Rs 8,600. This price cut is made with the government's Fame 2 subsidy.
In his statement, Okinawa Autotech Pvt. ltd Founder and Managing Director Jitendra Sharma said on price cuts that the budget has made several new provisions to promote electric vehicles. It also proposed a 12 percent to 5 percent cut in GST rates. The tax has been reduced by 7 percent, followed by a reduction in prices from Rs 2,500 to Rs 8,600. Scooters range between Rs 37,000 to Rs 1.08 lakh in the product range of Okinawa, including i+, Ridge Ridge, Ridge, PraisePraise and Ridge30. At present, Okinawa's electric scooters are priced between Rs 37,000 and Rs 1.08 lakh.
Mahindra & Mahindra has earlier reduced the prices of its electric sedan e-verito. The company has reduced the prices of e-verito by Rs 80,000. Earlier, Hyundai has reduced the prices of its electric car Kona from Rs 25.30 lakh to Rs 23.72 lakh. There is a direct saving of Rs 1.58 lakh on the corner. Tata's electric car Tigor has also been reduced. After the discount, Tata Tigor Electric is priced at Rs 11.58 to Rs 11.92 lakh. From Rs 12.35 lakh to Rs 12.71 lakh, all these prices are ex-showroom, Mumbai. The company has decided to reduce Tigor prices by up to Rs 80,000.
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