Smaller EV players nearly wiped out as FAME-II crackdown triggers sales collapse

Electric two-wheeler makers penalised for FAME-II subsidy violations have experienced a significant sales decline, with smaller players struggling. Government crackdown consolidated market share among compliant companies like TVS and Bajaj. Investigations into fraudulent subsidy claims led to subsidy suspensions and price increases, impacting consumer demand. A new FAME-III programme is anticipated to promote electric mobility with stricter compliance.

from Tech-Economic Times
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