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.