India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

India’s electric two-wheeler market, which was likely to touch 1 million units by 2022-23 (FY23), may fall short of the target, even as sales at most firms have been advancing at a fast clip, reveals the Society of Manufacturers of Electric Vehicles (SMEV) — an association representing Indian manufacturers of electric vehicles (EVs) and EV components.

Electric two-wheeler makers attribute it to an amalgam of factors, including supply-side glitches, impending government regulations, incidents of fire, and delay in the disbursement of Faster Adoption and Manufacturing of Hybrid and Electric Vehicles II (FAME II) subsidies, forcing start-ups to mothball their expansion