The halt on Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) subsidies by the Centre has pushed defaulter original equipment manufacturers (OEMs) to increase the price of electric vehicles (EVs). Majority of the EV players have increased prices of their products in proportion to the subsidies they had earlier received, or by at least 20 per cent of the subsidy amount.
However, large players such as Hero Electric claim they are selling EVs at subsidised rates. “We are selling all our products with subsidy benefits despite not getting it from the government for the last 16 months,” said Manu Sharma, spokesperson, Hero Electric.
