TVS to refund Rs 20cr to iQube Customers. Here’s the Reason Why! 

TVS has decided to refund Rs 20cr to the iQube Customers

The TVS iQube is an Electric scooter that competes with the OLA electric scooters and Ather Electric scooters. Now TVS has decided to refund its customer Rs 20cr under the “Goodwill Benefit Scheme”. This Scheme is supported by the FAME II policy where it was reported that the manufacturers are selling the chargers separately. The refund of the cost of the charger comes under the Scheme. This was noticed when the Ministry of Heavy Industries found that some EV manufacturers are selling chargers separately at extra cost. And because of this the cost of the scooter increased and crossed the limit to receive the FAME subsidy. This fraud is not only seen with the TVS but also with Ather and OLA Electric scooters too. It is speculated that OLA Electric will also refund Rs 130cr to its customers for charging extra for the chargers. 

Speaking on this occasion 

KN Radhakrishnan, Director, and CEO – of TVS Motor Company, said, “As a responsible corporate, TVS Motor has fully complied with all government regulations specified under FAME. Further towards alleviating ambiguity and ensuring a clear policy direction, TVS Motor will offer a goodwill benefit scheme for its customers who have paid over and above the threshold limit fixed by FAME. The overall cost impact to TVS Motor Company is less than 20 crores.”

“TVS Motor is fully committed to the government of India’s vision to promote electric mobility and fully support the government of India’s initiative to enable faster adoption of electric mobility, development of electric vehicle eco-system and in the spirit of Atmanirbhar Bharat, all the electric development has happened in-house,” Radhakrishnan added. 

TVS iQube and rivals’ powertrain 

The TVS iQube starts at Rs 1.06L Ex.showroom for the standard variant and Rs 1.08L for the S variant. The scooter is powered by a 2.25kWh battery pack that is paired with the 4.4kW motor that produces 6hp of maximum power and 140nm of crazy torque. The top speed of the scooter is 80kmph whereas the maximum range of the scooter is 100km (ARAI). 

The Ola S1 is available in 3 powertrains the S1 Air, S1, and S1 Pro. In S1 air you get 3 variants, the 2kWh, 3kWh, and 4kWh. The 2kWh provides a range of 87km and has the top speed of 85kmph. The 3kWh battery has a 128km long range and the same 85kmph range. The 4kWh has the highest range of 169km and has the top speed of 85kmph. The OLA S1 also has 2 variants the 2kWh battery pack and the 3kWh battery pack. The 2kWh battery provides 91km of range and has a top speed of 90kmph. The 3kWh battery pack provides 128km of range and has a top speed of 95kmph. The S1 pro is available in only 1 variant which is the standard variant that has a 4kWh battery pack and has a top speed of 116kmph.

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