Incentives for Indian electric 2- and 3-wheelers could fall under new scheme, UBS says

Jbm Auto

13/09/2024 08:31

** Brokerage UBS estimates a 31-34% cut in incentives per
vehicle for electric two- and three-wheelers under new Indian
scheme
    ** Says allocation of funds under the scheme is heavy on
commercial vehicles and introduces incentives for setting up
public charging infrastructure
    ** Says scheme is negative for cars as it leaves out e-cabs,
which were part of earlier scheme
    ** Some EV makers had risen on Thursday after scheme was
announced
    ** EV makers largely up less than 1%, JBM Auto  JBMA.NS  -
which makes electric buses - up 2.5%
    ** Nifty Auto index  .NIFTYAUTO  up 0.1%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))