The government official who wished to remain anonymous said that there is no proposal at present for an extension of FAME-II beyond March 2024 or introduction of FAME-III.
The official said that a stakeholders’ meeting with 24 electric two-wheeler OEMs registered under FAME-II was called on Tuesday and the consultation reached a consensus that the demand incentive may be kept at ₹10,000 per kWh of battery capacity, along with a cap of 15 per cent of the ex-factory price from 40 per cent at present. At a time when several two-wheeler electric vehicle (EV) makers are under the scrutiny for misappropriation of Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme’s subsidies, the Centre reportedly plans to cut the per vehicle subsidy for two-wheeler EVs under the scheme.
During a meeting with stakeholders of 24 electric two-wheeler original equipment manufacturers (OEMs) registered under the FAME-II scheme on Tuesday (May 16), a consensus was reached that the demand incentive may be kept at INR 10,000 per kWh of battery capacity for two-wheeler EVs but the subsidy would be reduced to 15% of the ex-factory price of the vehicle from 40% at present
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