Stalled FAME subsidy slows growth in electric 2-wheeler sales
According to industry estimates, subsidy payments of Rs 1,100 crore under the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme have been held back by the government. Industry executives say the manufacturers are facing an extreme shortage of working capital as they had already passed on the subsidy benefit to customers and were waiting for reimbursement from the government.
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