When the Electric two-wheelers sales are dropping due to the higher prices and lack of subsidies. Mahindra has announced the launched of its new electric two-wheelers specifically made for the Indian market.
Mahindra will launch new electric two-wheelers in India
Mahindra’s two-wheelers will be developed and manufactured locally. Mahindra is one of the first company to launch electric vehicles in India, it has launched electric four-wheelers and three-wheelers, Mahindra e20, e-Verito and e-Treo. But for the first time, it is launching electric two-wheelers in India.
The company’s electric scooter, GenZe 2.0 is on sale in the USA which gives a range of 56 km and costing around Rs.2.62 lakhs (ex-showroom). It is not available in India as the price is high.
It will also launch new electric passenger vehicles and electric light commercial vehicles in the next coming years. The company’s petrol-powered two-wheelers such as the Gusto, Mojo and Centuro are to phase out because of the low demand from the consumers.
Electric two-wheelers in India
The Mahindra’s electric scooters will compete with the other electric scooters in the market such as Bajaj Auto, TVS and Hero MotoCorp and many others which is going to be launch in India.
According to the data the Society of Manufacturers of Electric Vehicles (SMEV), in 2018 the sales of electric two-wheelers was 1.26 lakh when compared to the vehicles sold in 2017 were only 54,800 units. 1700 electric tw0-wheelers sold in the June quarter under the FAME Scheme whereas last year, the sales were around 30,000.
5 manufacturers getting subsidy scheme
As only 5 manufacturers have managed to get the eligibility certificate for the subsidy scheme. The manufacturers include Ather Energy, Ampere, Okinawa, Jitendra Electric Vehicles, and Hero Electric.
There are 88 models of electric two-wheelers sold by 18 manufacturers were eligible under the FAME subsidy. Many of these vehicles are not eligible for subsidy it couldn’t meet the scheme’s criteria and lost the support of the government.
According to the commerce ministry data, the import of electric two-wheelers in the June quarter is recorded to the doubled from the last year quarter to 2,170 units.
Gazette Notification For FAME India Scheme
The Gazette Notification For FAME India Scheme Phase-II, the electric two-wheeler is eligible for a subsidy of 10,000 per kWh (kilowatt-hour) of battery capacity. Rs 2,000 crore has been reserved to support the sale of a million electric two-wheelers by the end of March 2022.
To avail the subsidy under FAME India, electric two-wheeler manufacturers must source more than 50% of the components locally then only the EVs will be certified as eligible to avail the incentives.
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