Smaller EV players nearly wiped out as FAME-II crackdown triggers sales collapse

Electric two-wheeler makers penalised for violating Faster Adoption and Manufacturing of Electric Vehicles-II (FAME-II) subsidy norms have seen a collapse in sales, with several smaller players nearly vanishing from the market. The government’s crackdown has consolidated market share among a few players.

Gurugram-based Okinawa Autotech saw its annual sales nosedive from 31,618 units in 2023 to 4,855 in 2024. In the first half of 2025, it has managed to sell just 1,422 vehicles, according to data from the government’s Vahan portal.

Ampere Vehicles,…