New Delhi, Sept. 9 Electric two-wheeler companies like Ultra Motors and Hero Motors have slashed prices of their vehicles in the range of Rs 8,000-9,000 as the Delhi government has offered a 15 per cent subsidy on the sales price and a 12.5 per cent waiver on VAT.
Ultra Motors on Tuesday announced a reduction of Rs 9,000 on its high speed bike Velocity and Rs 8,000 on its low speed bike Marathon.
�The government support translates in to a saving of 24 per cent for the customer,� said Mr Deba Goshal, Marketing Director Ultra Motors.
Earlier its bikes were priced around Rs 33,000, thereby competing with scooters which are also sold in the range of Rs 34,000-Rs 40,000.
Similarly, Hero Electric too reduced prices of its bikes Maxi and Optima to Rs 19,950 and Rs 20,000 respectively recently said Mr Sohinder Gill, the company�s CEO.
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