highlights
As part of the FAME II funding, the prices for electric vehicles were reduced.
It was decided to remove the funding from June 1, 2023.
Now the price for electric two-wheelers has increased.
New Delhi. Electric vehicles are becoming increasingly popular around the world, including in India. Above all, the popularity of two-wheelers has increased rapidly. Their sales in India have also increased rapidly in recent months. The funding for electric two-wheelers was recently reduced, which has a significant impact on their sales. The FAME II funding was canceled on June 1st.
After the withdrawal of subsidies, manufacturers of electric two-wheelers have increased the prices for their models, which is why buyers are now reluctant to buy. The clear effect of the freedom from subsidies can be seen in the sales in June 2023. According to media reports, in June 2023 there was a huge drop in sales of 60 percent.
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Sales fell by 60 percent
A total of 1,05,000 electric two-wheelers were registered for sale in May 2023, after the subsidy cut there were only 35,464 units in June. Sales of brands like Ola, Ather, Bajaj, TVS and Hero were severely impacted by this decision. In recent years, the market for electric two-wheelers has grown rapidly.
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As for sales of Ola, the company sold 28,612 units in May. In June, the company sold just 22,024 units. The condition of the hero was similar. In May, Hero sold 6,486 units and in June the company sold just 970 units. TVS sales fell from 20,396 units to 5,253 units.
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Tags: car news
FIRST RELEASED : Jul 01, 2023 12:57 p.m
