Companies line up affordable electric bikes post FAME II subsidy hike
A number of electric two-wheelers will soon be available in the sub-₹70,000 price segment, which has traditionally been dominated by the internal combustion engine players, as manufacturers firm up new launches, rejig portfolios and rework product plans.
This comes in the backdrop of the government’s decision to increase subsidy on electric two-wheelers by 50% to ₹15,000 per kWh under the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME II) scheme. The scheme came into effect in 2019 to help hasten the transition to electric vehicles to curb air pollution and reduce India’s dependence on oil imports.
