Ending FAME-II to help win EV battle
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Chennai: The scrapping of the Faster Adoption and Manufacturing of Electric Vehicles in India-II (FAME-II) scheme in March 2024 may result in a reduction of sales in the short term, but will not impact in the long term, said Anirudh Ravi Narayanan, CEO of BNC Motors Pvt Ltd.
The company makes electric motorbikes and scooters. During January-November 2023 the total electric vehicle (EV) sales in India have been 1.38 million (Jan-Nov 2022 sales 924,000 units) of which about 783,000 units (567,000 units) were two wheelers and about 595,000 units (357,000 units) were three and four wheelers combined. “So not only was there a 50% rise in EV sales from 2022 to 2023, there has been a 38 per cent increase in EV two-wheeler sales alone.
