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Electric two-wheeler domestic sales expected to decline 15-17% in FY21: Icra

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MUMBAI : Electric two-wheeler domestic sales are expected to shrink 15-17% year-on-year this fiscal amid an evolving pandemic situation, persisting health concerns coupled with economic uncertainties, ratings agency Icra has said.The FAME-II scheme aimed to push faster electric vehicle (EV) adoption crossed the halfway mark of its three-year tenure (FY2020-FY2022), on September 30, 2020.

However, it has managed to achieve only 2% of its target (out of covering 10 lakh e-2Ws) sales during the period.FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles)-II has set a target of one million e-two wheelers by the end of FY22.Also Read | Inside the rumble in India’s coding jungleIn the first half of FY21, the actual.

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