Electric two-wheeler monthly sales drop 23% in April; Ola Electric clocks marginal rise

Electric Vehicle (EV) two-wheeler industry took a hit in April as it sold 66,810 scooters, down by about 23% compared to March, according to data from the government portal Vahan compiled by Elara Capital.

According to industry experts, the fall was due to the government’s delay in disbursal of the FAME-II subsidies as multiple companies have come under the scanner for availing of the funds either by mispricing the EVs or importing components and passing them off as locally sourced.