Hero Lectro, the electric cycles brand of Hero Cycles Ltd, on Monday said the prices of its five products will be reduced by up to Rs 15,000 in Delhi, following the inclusion of e-cycles to be eligible for subsidy and tax exemption under the EV policy.
As a direct benefit of the inclusion of e-cycles in the Delhi EV policy, eligible Hero Lectro variants (C6, C8i, F6i and C5) will see an effective price reduction of Rs 7,500 across models, the company said in a statement.
These will now be available at an on-road price range of Rs 23,499 to Rs 47,499, it said.
The cargo variant, Hero Lectro Cargo Winn, will see an effective price reduction of Rs 15,000 and will be available at Rs 34,999, it added.
“The subsidy support will make e-cycles more affordable and accessible to a larger segment of society,” Hero Cycles Director Aditya Munjal said.
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 the cargo e-bike variant will make the Hero Lectro Winn the most cost-competitive, sustainable option in the hyperlocal delivery ecosystem, he added.
“As a result of this, we expect to see a boost in economic activity and new sources of income being created,” Munjal said.
The incentive is expected to boost the adoption of e-cycles, a sustainable and green mobility option in the national capital, Hero Lectro said.
Cargo e-cycles are also expected to become a preferred choice of green and cost-effective last-mile delivery vehicle for commercial use with the policy inclusion, it added.