Tork Motors to hike prices

Less than a year after its launch, Tork Motors has announced that it will be hiking prices for its Kratos electric bike by ₹10,000, and this will be applicable for both, the standard variant as well as the more high-performance R version. As a result, the two will end up being priced at ₹1,32,499 and ₹1,47,499, respectively (ex-showroom Maharashtra, after FAME-2 and state subsidies).

The price hike will take effect from January 1, 2023.

While this particular hike measures ₹10,000, the overall increase in the price of the Kratos since its launch has actually been much larger. At the time of its launch, the Kratos was priced at ₹1.08 lakh for the standard version and ₹1.23 lakh for the R variant (ex-showroom Maharashtra, after FAME-2 and state subsidies). This means that after the January hike, the Kratos will be roughly ₹25,000 more expensive than its launch price, in a span of less than one year.

What the Kratos has going for it, is the fact that it has no direct competition at this price point in the electric motorcycle space. On the lower end, there is the Revolt RV400, priced at ₹1.23 lakh (ex-showroom Maharashtra, after FAME-2 and state subsidies) and on the upper end, there is the much more expensive Ultraviolette F77, recently launched from ₹3.80 lakh onwards (ex-showroom).

As for the reason behind the increase in the Kratos’ price, Tork says that it has been “absorbing a significant portion” of the rise in input costs so far, but the steep rise has “compelled this minimal price hike.” The company also says it will be offering price protection to all motorcycles delivered until December 31, 2022.