Electric
two/three-wheeler manufacturers are sitting on a stockpile of unsold vehicles
for which they will not be able to claim subsidy under Faster Adoption &
Manufacturing of Electric Vehicles (FAME) II, which is expiring on March 31.
They have offered heavy discounts in
the hope of exhausting their inventories before the March 31 deadline.
To make matters worse, there were clear
signals in a recent meeting of the Original Equipment Manufacturers (OEMs) with
the Ministry of Heavy Industries (MHI) that neither is the FAME II scheme being
extended nor is there any decision yet on FAME III.