Hero Lectro electric cycles become ₹7,500 cheaper with Delhi govt EV subsidy
Electric cycle brand of Hero Cycles - Hero Lectro, on Monday announced that five of its e-cycle variants are eligible for subsidy under Delhi EV Policy as the government of the national capital recently included battery powered cycles in its EV scheme. Eligible Hero Lectro personal e-cycle variants include C6, C8i, F6i and C5, with an effective price reduction of ₹7,500 across models. The brand's cargo variant - Hero Lectro Cargo Winn, will see reduction of ₹15,000, taking its total price to ₹34,999.
The Delhi government has been at the forefront of promoting electric mobility in the country and recently included electric cycles under its EV policy offering subsidies to buyers. With this, prices of electric cycles in the city will see a significant reduction as a direct benefit of the subsidy and tax exemption. This move is expected to boost the adoption of e-cycles in the national capital.
Prices of cargo e-cycles are also expected to reduce, boosting its adoption in the city and making it a cost-effective last-mile delivery vehicle choice for commercial use cases. “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," said Aditya Munjal, Director, Hero Cycles.
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The Delhi government has approved as many as 11 electric cycle models from four different companies which are eligible for subsidy under its EV Policy while many more e-cycles are expected to become a part of this in the time to come. With four personal e-cycles and one cargo e-cycle, Hero Lectro currently is the company with the highest number of options eligible for subsidy in the city.
Other eligible electric cycles are from Nexzu Mobility Limited, Motorvolt Mobility Private Limited and Stryder Cycle Private Limited.