Business Standard

Govt subsidy halt pushes OEMs to drive electric vehicle prices up

Large players, like Hero Electric, claim they are still selling EVs at reduced prices

Photo: Bloomberg

Photo: Bloomberg

Nitin Kumar New Delhi
The halt on Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) subsidies by the Centre has pushed defaulter original equipment manufacturers (OEMs) to increase the price of electric vehicles (EVs).

A majority of EV players have increased the prices of their line-up in proportion to the subsidies they had received earlier, or by at least 20 per cent of the subsidy amount.

However, large players, such as Hero Electric, claim they are still selling EVs at subsidised prices.

“We are selling all our products with subsidy benefits despite not getting it from the government for the past 16

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First Published: Jan 23 2023 | 3:32 PM IST

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