Business Standard

Uncertain future for EV dealers as manufacturers face subsidy halt

Many are considering shutting shop as supplies are down to a trickle and operational costs exceed revenues

Ola Electric

Nitin Kumar New Delhi
Business is turning tough for dealers of several electric vehicle (EV) makers whose subsidies under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) scheme have been stopped by the Centre.

With dwindling supplies from manufacturers, these dealers say, customers are moving to other brands. Most dealers of the defaulter original equipment manufacturers (OEMs) this paper spoke to said they were rethinking their decision to stay in business because their losses had piled up and sales dwindled. The decline in sales is largely because of price hikes and longer waiting periods as the OEMs await a decision on the

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First Published: Feb 26 2023 | 3:40 PM IST

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