- India’s electric two-wheeler sales experienced a 56% decline in June due to reduction in the government’s FAME-II subsidy scheme, causing many manufacturers to increase their prices.
- Despite this setback, the total cost of ownership for electric vehicles remains favorable, and high fuel prices may drive an eventual increase in sales.
- Experts anticipate market consolidation and increased innovation in pricing strategies, and suggest sales may shift towards low-speed vehicles and legacy brands.
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