New Delhi, March 23 -- India's top two-wheeler makers are bracing for pressure on margins and demand, as a surge in commodity costs linked to the ongoing West Asia war coincides with the impending withdrawal of electric vehicle (EV) subsidies. The twin blow has led to concerns that the companies, including TVS Motor, Bajaj Auto and Hero MotoCorp, may be forced to raise prices, absorb cost pressures, or risk slowing adoption of EVs.

Analysts and industry executives note that the removal of subsidies under the government's PM E-Drive scheme from April can lead to price hikes of up to Rs.5,000 for electric two wheelers. The companies have been requesting for the scheme's extension.

This comes at a time when the manufacturers were already r...