Even though electric two wheeler (e2W) companies saw a slight recovery in July of 12 per cent with 49,518 registrations – after a wash out in June because the government slashed the FAME 2 subsidy by a third – registrations are still lower for the second month in a row compared to April FY24. The slow pace has raised doubts about whether the registrations will reach anywhere near either Niti Aayog’s ambitious target of 2.4 million vehicles in FY24 or whether they will be closer to the trimmed down industry expectation of around one million. In June, e2W registrations plunged to a mere 44,253, the worst month in more than a year, as companies hiked scooter prices.
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