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Registrations of two-wheeler EVs fell slightly in January 2023

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The registrations of two-wheeler electric vehicles (EVs) fell slightly in January 2023, falling to 64,298 units from 64,527 units in December 2022, as the Indian government tightened regulations surrounding FAME-II subsidies.

The Centre began tightening the criteria for receiving subsidies under the FAME-II scheme in September last year, and later decided to penalise original equipment manufacturers (OEMs) for failing to meet the localisation requirement for components used in EVs under the scheme. Subsidies for Hero Electric and Okinawa were subsequently discontinued by the Ministry of Heavy Industries. Despite the third consecutive month of declines in total two-wheeler EV registrations in January, Ola Electric increased registrations to top the chart on February 2, according to data on the Vahan portal. The startup’s total EV registrations during the month were 18,220 units, a 5% increase from 17,346 units in December last year. In November, Ola Electric received 16,375 registrations.

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Registrations of two-wheeler EVs fell slightly in January 2023

The registrations of two-wheeler electric vehicles (EVs) fell slightly in January 2023, falling to 64,298 units from 64,527 units in December 2022, as the Indian government tightened regulations surrounding FAME-II subsidies.

The Centre began tightening the criteria for receiving subsidies under the FAME-II scheme in September last year, and later decided to penalise original equipment manufacturers (OEMs) for failing to meet the localisation requirement for components used in EVs under the scheme. Subsidies for Hero Electric and Okinawa were subsequently discontinued by the Ministry of Heavy Industries. Despite the third consecutive month of declines in total two-wheeler EV registrations in January, Ola Electric increased registrations to top the chart on February 2, according to data on the Vahan portal. The startup’s total EV registrations during the month were 18,220 units, a 5% increase from 17,346 units in December last year. In November, Ola Electric received 16,375 registrations.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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