Smaller EV players nearly wiped out as FAME-II crackdown triggers sales collapse

July 14, 2025

, By The Economic Times

smaller-ev-players-nearly-wiped-out-as-fame-ii-crackdown-triggers-sales-collapse.jpg

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Electric two-wheeler makers penalised for violating Faster Adoption and Manufacturing of Electric Vehicles-II (FAME-II) subsidy norms have seen a collapse in sales, with several smaller players nearly vanishing from the market. The government’s crackdown has consolidated market share among a few players.

Gurugram-based Okinawa Autotech saw its annual sales nosedive from 31,618 units in 2023 to 4,855 in 2024. In the first half of 2025, it has managed to sell just 1,422 vehicles, according to data from the government’s Vahan portal.

Ampere Vehicles,…

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Smaller EV players nearly wiped out as FAME-II crackdown triggers sales collapse

July 14, 2025

, Published By The Economic Times

smaller-ev-players-nearly-wiped-out-as-fame-ii-crackdown-triggers-sales-collapse.jpg

Electric two-wheeler makers penalised for violating Faster Adoption and Manufacturing of Electric Vehicles-II (FAME-II) subsidy norms have seen a collapse in sales, with several smaller players nearly vanishing from the market. The government’s crackdown has consolidated market share among a few players.

Gurugram-based Okinawa Autotech saw its annual sales nosedive from 31,618 units in 2023 to 4,855 in 2024. In the first half of 2025, it has managed to sell just 1,422 vehicles, according to data from the government’s Vahan portal.

Ampere Vehicles,…

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.

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Previous News

The future of weather prediction is here. Maybe.

Next News

Loss Widens 23% YoY To INR 428 Cr

The Economic Times

More like this

Popular

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