FAME-II to offer incentives for EVs from next month
- From April, up to 10 lakh electric two-wheelers will get a subsidy of Rs 20,000 each while 35,000 fully electric cars can avail the benefit of Rs 1.5 lakh under the newly notified FAME-II scheme, reducing their prices for buyers.
- The second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) will be implemented for three years starting next month with a Rs 10,000 crore outlay.
- It has also envisaged providing support to 7,090 e-buses (having an ex-factory price of up to Rs 2 crore) with an incentive of up to Rs 50 lakh each, according to a notification issued by the Heavy Industries Ministry.
- As per the notification, incentives of Rs 1.5 lakh each to 35,000 electric four-wheelers with an ex-factory price of up to Rs 15 lakh, and support of Rs 13,000 each to 20,000 strong hybrid four-wheelers with an ex-factory price of up to Rs 15 lakh will be provided.
