Govt's plans to reduce subsidies on electric two-wheelers a retrograde step, say industry players
"We feel this sharp reduction in the subsidy is going to hurt the market and the adoption of E2Ws (electric two-wheelers) may go down substantially," Society Of Manufacturers Of Electric Vehicles (SMEV) Director General Sohinder Gill said in a statement.
Lohia Auto Industries CEO Ayush Lohia expressed similar views and said while the government aims to create more room for two-wheelers in the market, this substantial reduction in subsidies poses a significant challenge for the nascent EV industry.