E2W industry faces speed bump: 21% price hike, 55% sales drop after FAME-II subsidy cut
The FAME-II subsidy revision, announced on May 19, 2023, brought about significant changes in the demand incentive and incentive cap for electric two-wheelers registered after June 1, 2023. The demand incentive per kWh was reduced to INR 10,000 from the previous INR 15,000, while the incentive cap was scaled down from 40% to 15% of the E2W's ex-factory price.
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