Subsidy on electric bikes likely by next year

Electric bikes are set to get a boost as the government plans to announce subsidy on electric bikes by next year. The move is aimed at reducing India's carbon emissions from petrol/diesel-run vehicles.

Naveen Munjal, MD of Heroeco tech said, "Already this proposal has been cleared by seven ministries and we are expecting a final clearance by next year which will thus bring the prices of vehicle down. Ministry of heavy industry, national council for electric mobility and many others have given a green signal on this demand."

Heroeco's e-Bike costs Rs 28,000. Though it is gaining popularity in Delhi and other states, the cost factor is a hurdle in making it available widely.

Vijay Munjal, Group Chairman, Heroeco added, "Apart from the e-bike even the awareness regarding riding a bicycle is also increasing. This is the reason that sale of fancy bicycle models which are in the price range of Rs 25,00- Rs 10,000 is increasing on an average by 30 per cent per annum."

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