FAME subsidy cut: Prices up over 21%, e2W sales more than halve in June

Among the brands, Ola Electric raised prices by 38%, Ather Energy by 70%, TVS iQube by 62% and Ampere by 69%

The revision in FAME II subsidy by the government has led to a steep price hike of about 21 per cent in electric two-wheelers across brands, said a report by JMK Research on Wednesday. Industry expects consumers to look for ICE counterparts or low-speed electric two-wheelers due to the surge in prices.

In June 2023, the retail sales of high-speed electric two-wheelers in India amounted to 45,734 units--a significant month-on-month decline of over 55 per cent. Among the brands, market leader Ola Electric revised its prices up by 38 per cent, Ather Energy by 70 per cent, TVS iQube by