FAME-II subsidy slashed

All you need to know

Electric scooters, bikes set to become more expensive.

Subsidy limit reduced to Rs 10,000/kWh, down from Rs 15,000/kWh earlier.

Cap on ex-factory price has been reduced to 15% from 40%.

All this comes into effect from June 1, 2023.

Subsidy amounts for all FAME-II compliant OEMs to reduce by a significant margin.

This move comes at a time when EV sales are declining month-on-month.

EV OEMs who have invested in PLI schemes will not be impacted as much.