If we do it in one shot, it would be a big shock for the customers," he told ET.Phokela doesn't expect the price hike to impact demand in the medium to long term. While the industry must prepare for selling e-scooters without subsidy, the process has to be a gradual one, he said. Hero Electric , which sells the Optima among other brands, has decided not to increase prices immediately. "The drop in sales is not a reflection of demand, the demand remains very strong," Phokela said. As a result, driven by issues around subsidy, the e-two-wheeler market has witnessed consolidation in the past few months with Ola and TVS gaining the most.

Source: Economic Times June 01, 2023 06:42 UTC