"May 2024 has shown a slight recovery in EV retail across various segments following the major decline caused by the conclusion of FAME-II subsidies in March," Manish Raj Singhania, President of FADA said. However, he added, the market share for electric commercial vehicles, including two-wheelers and three-wheelers, has remained relatively stagnant over the past few months. Source: FADA A total of 76,907 units of electric two-wheelers were sold in the market last month, up 18.12% from April 2024. Ola Electric Technologies saw the highest sales at 37,225 units, followed by TVS Motor Company and Bajaj Auto Group at 11,788 units and 9,214 units, respectively. On the outlook, the FADA President said the automotive industry is eagerly looking forward to the announcement of FAME-III by the newly formed government.