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By Vivek Dubey May 21, 2023 2:17:49 PM IST (Published)
Since April 2023, electric-two-wheeler sales have been under pressure and have been falling after recording the highest monthly sales in March 2023 at 85,793 units. The sales of electric-two-wheelers stand at around 39,000 units in May so far, according to the Vahan portal.
The Central Government has decided to reduce the subsidy under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) scheme on electric two-wheelers. The Ministry of Heavy Industries, in its recent notification, announced a modification in the FAME India Phase II scheme and dropped the subsidy on electric two-wheelers to Rs 10,000 per kWh from the existing Rs 15,000 per kWh and the maximum subsidy cap from 40 percent to 15 percent.
Since April 2023, electric-two-wheeler sales have been under pressure and have been falling after recording the highest monthly sales in March 2023 at 85,793 units. The sales of electric-two-wheelers stand at around 39,000 units in May so far, according to the Vahan portal.
The Ministry of Heavy Industries said that the modification in the FAME India Phase II scheme will come into effect from June 1, 2023, and would apply to all electric two-wheelers registered on or after June 1, 2023.