India's electric two-wheeler market, which has been growing rapidly, has hit a roadblock due to a reduction in government subsidies. The Indian government revised its incentive scheme, reducing subsidies for electric scooters to $122 per kWh of battery capacity, causing a significant decline in sales. In June, electric scooter sales dropped over 56% compared to May. The reduction in subsidies has led to price increases by manufacturers, impacting sales. The Society of Manufacturers of Electric Vehicles (SMEV) has called for a revision of the subsidy regime, while market watchers believe manufacturers need to find ways to stay competitive without subsidies.
The post India’s electric two-wheeler sales hit a speed bump appeared first on Balanced News Summary.