FAME-II Subsidy Issues Hit Two-Wheeler EV Demand, Registrations Drop 23% MoM In April

FAME-II Subsidy Issues Hit Two-Wheeler EV Demand, Registrations Drop 23% MoM In April

SUMMARY

A total of 66,410 two-wheeler EVs were registered in April as against 86,187 units in March, as per Vahan data

Ola Electric continued to lead the chart in April with registration of 21,845 units. However, its registrations rose only a little over 2% MoM

While Ather Energy’s EV registrations declined 36% MoM in April, TVS Motor saw a sharp 48.2% fall

Electric two-wheeler registrations dropped around 23% month-on-month (MoM) in April, after seeing a sharp jump in March, amid the ongoing issues and uncertainty around the Centre’s FAME-II scheme.“We delivered 8,182 scooters in April, registering 117% year-on-year growth. There has been a dip in sales this month when compared to March ‘23 due to the uncertainty around FAME policy and its cascading impact,” said Ravneet Singh Phokela, chief business officer at Ather Energy, in a statement.

A total of 66,410 two-wheeler EVs were registered in April as against 86,187 units in March, as per the data on the Vahan portal on May 1. In fact, the April figure is just a little higher than the February registration number of 66,032 units.

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