Electric two-wheeler sales lose charge, drop 5.4% in 2020
Sales of electric two-wheelers declined by 5.4% year-on-year to 25,735 units in 2020 in India due to the covid-led economic slowdown, shows data released by the Society of Manufacturers of Electric Vehicles (SMEV). Supply of vehicles, too, was impacted due to disruptions in importing components from China.
“While the electric two-wheeler industry has been able to weather the covid pandemic with the sale of high-speed electric two-wheelers, clocking 25,735 in 2020, as against 27,224 units sold in the previous calendar year, the ambitious target of generating sales of 1 million vehicles under FAME 2 is nowhere in sight,” the industry body said in a statement on Wednesday.
It said the government’s Faster Adoption and Manufacturing of Electric and Hybrid Vehicle (FAME) scheme has not been successful as most of the electric two-wheelers sold in the market do not qualify for subsidies under the scheme due to high threshold level.
