Electric 2-wheeler sales 2020 – Surprisingly, despite the FAME 2 subsidy, sales have registered fall year on year.
Sales of electric two-wheelers haven’t really taken off in India. The Society of Manufacturers of Electric Vehicles (SMEV) has announced sales numbers for the high-speed electric two-wheelers (E2Ws) for 2020.
India witnessed sales of 25,735 units of E2Ws during last year from January to December 2020. If you compare these numbers to the previous year, the industry had sold 27,224 units of E2Ws during calendar 2019. That means the industry has seen a degrowth of 1489 units or 5.46% Y-o-Y.
What is worrying is the fact that this is despite the government announcing the FAME 2 subsidy for electric two wheelers back in April 2019. The government had a target of putting one million high-speed two-wheelers on the roads by March 2022.
However, it looks like the target is going to be missed badly. The industry saw a combined sale of 52,959 units of high-speed E2Ws from all the manufacturers between January 2019 and December 2020. Out of these 52,959 units, only 31,813 units of E2Ws qualified for the FAME 2 scheme, and the rest did not.
Speaking about this, the Director General of SMEV – Mr. Sohinder Gill said that FAME 2 scheme had some good points and laudable objectives, but it came with so many unnecessary strings attached, because of which only 4% of the stated targets were achieved.