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Live News Today: Ministry had no other choice, says SMEV official on Govt plans to cut EV two-wheeler subsidy

Live News Today: Ministry had no other choice, says SMEV official on Govt plans to cut EV two-wheeler subsidy Business and Political news updates: Reacting to the plans of the ministry to cutting subsidy provided to EV two-wheelers under the FAME-II Scheme among other possible changes, Sohinder Gill, Director General, SMEV (Society of Manufacturers of Electric Vehicles) and CEO of Hero Electric, said: “…. In the absence of any additional budget, the ministry was left with no choice, but to either suddenly stop the subsidy or to somehow manage the rest of the year with greatly reducing the budget and drawing some unspent money from the E3W budget. On top of it, there is no clear indication of FAME III support. Hence, the industry also had no choice but to accept this else the subsidies would have finished instantly.”

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