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      Home » Govt Reduces FAME-II Subsidy for E2Ws

      Govt Reduces FAME-II Subsidy for E2Ws

      Aishwarya SaxenaBy Aishwarya SaxenaMay 23, 2023Updated:May 23, 2023 E-Mobility 1 Min Read
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      In a new amendment, Indian government has implemented a reduction in the FAME-II subsidy for electric two-wheelers from next month.

      FAME-II SubsidyAs per a notification issued by the Ministry of heavy industries, the subsidy for electric two-wheelers will decrease from Rs 15,000 per kWh to Rs 10,000 per kWh.

      On this, Nikhil Bhatia, Co-Founder & Chief Operating Officer of HOP Electric Mobility, said, “There was a need to have a more pragmatic approach to the long-term advancement and sustenance of the electric vehicle segment. Phasing out the subsidies is a forward-looking move, and it’s time now that the dependence on subsidies is done-away-with gradually. Subsidies are no longer needed for the electric two-wheeler industry to thrive, and reducing and eventually removing the FAME II subsidy is a welcome step in the right direction. It is time EV stands on its own and we are ready for it.”

      Additionally, the cap on incentives will be lowered from 40% to 15% of the ex-factory prices of vehicles.

      This notification will be effective from June 1, 2023, and will apply to all electric two-wheelers registered on or after that date.

      This change is expected to result in increased prices for electric two-wheelers in India.

      electric two-wheelers FAME-II subsidy HOP Electric Mobility Indian government Ministry of Heavy Industries
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