India’s electric vehicle (EV) subsidy program, known as FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles), is set for a revamp. The government plans to introduce a revised version, FAME III, after the new administration takes office following the ongoing general elections.
FAME III will place a strong emphasis on promoting EVs in public transportation, two-wheelers, and three-wheelers. The revised program is expected to prioritize electric buses, offering substantial subsidies to encourage their adoption. Additionally, FAME III is likely to provide financial support for two-wheelers and three-wheelers with subsidies of around ₹10,000 and ₹50,000, respectively. These subsidies will be based on the battery capacity of the vehicles, with ₹5,000 per kWh being offered as support. To be eligible for these subsidies, vehicle manufacturers will need to obtain a new certification. Details regarding this certification process will be revealed later. Under the previous FAME II scheme, a total of 3,72,215 cars, 3,33,387 two-wheelers, and 38,828 three-wheelers were produced and sold with government subsidies.
Covered By: Mobility India / FAME
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