The boom in electric two-wheeler sales in recent years has hit a speed bump this quarter after the government slashed the FAME II subsidy. The subsidy amount was lowered to Rs 10,000 per kWh compared to the earlier amount of Rs 15,000, with effect from June 1, 2023.
Various electric two-wheeler makers are trying to find a way around the slump by introducing lower priced models in their product line to attract a wider consumer base. This, after electric two-wheeler sales dropped from about 54,000 units in July to 46,000 units in June. The drop is starker when compared as May saw sales of a whopping 1.04 lakh units.
