The Green tax would also rationalise the expected drop in sales of EVs on account of the reduction in subsidies starting this month, the industry body representing electric vehicles said in a statement
The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for a period of two years up to March 31, 2024
The Heavy Industries Ministry has notified changes for reducing subsidy provided under FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two-wheelers registered on or after June 1, 2023
Also, the Heavy Industries Ministry will resume disbursal of subsidies under the scheme shortly as reports of most of the firms under the ambit of the audits being conducted by India's premier vehicle testing and validation agencies — ICAT and ARAI — have...
Adoption levels are expected to see exponential growth in future with developing infrastructure, government incentives and the launch of new EV models, KPMG said in a release
Citing data sourced from manufacturers, the Society of Manufacturers of Electric Vehicles (SMEV) said FY23 saw sales of 1.2 lakh low-speed (LS) e-scooters with a top speed of less than 25 km/hr
