EV Makers Jittery Over New Subsidy Scheme in India

  • Electric two-wheeler manufacturers in India are expressing concerns about the impact of the new government subsidy program, Electric Mobility Promotion Scheme (EMPS) 2024.
  • These companies fear the scheme could lead to a revenue loss exceeding Rs 300 crore.
  • A key worry is the reduced subsidy amount per vehicle compared to the previous FAME-II scheme.
  • This reduction is expected to translate into price hikes for electric scooters, potentially dampening sales.
  • Manufacturers are urging the government to address their concerns and ensure a smoother transition to the new scheme.

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