![EV demand boosts auto sales in May](https://images.assettype.com/fortuneindia%2F2022-02%2Fa8edbd70-1d55-42d9-b122-9d385c468c92%2FEV_copy.jpg?rect=0,0,2144,1072&w=300&q=95)
EV demand boosts auto sales in May
2W EV sales contributed 7% and 3W EV sales contributed a substantial 56% to their respective total sales.
2W EV sales contributed 7% and 3W EV sales contributed a substantial 56% to their respective total sales.
The government has reduced FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) subsidy on electric two-wheelers from June 1, 2023.
Bain & Company expects 35-40% of all vehicles sold in India by 2030 to be EVs, up from 2% in 2022.
Companies like Ola, Okinawa, and Pure EV have recalled over 6,500 EVs after several fire-related incidents across the country