The Government of India has announced Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) Scheme to promote the use of electric cars & two-wheelers in the country. Under the scheme subsidy & benefits are provided on the newly purchased electric vehicles.
10 lakh electric two-wheelers will be given subsidy of Rs. 20,000 each. 35,000 fully electric cars will get benefits of upto Rs. 1.5 lakh under FAME India Phase II Scheme. The scheme is applicable for the tenure of next 3 year starting from April 2019. Center government has allocated budget of Rs. 10,000 crores for the scheme.
|Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) Scheme|
|Benefits:||Subsidy & benefits on electric two-wheelers, three-wheelers, cars & buses|
|Beneficiaries:||Owners of electric vehicles|
|Budget:||Rs. 10,000 crores|
|State Date:||April 2019|
FAME India Phase II Scheme Benefits:
- Two-wheelers: Subsidy of Rs 20,000
- Cars: Incentives of Rs 1.5 lakh
- Buses: Incentive of up to Rs 50 lakh
- E-rickshaws: Incentive of Rs 50,000
- Cars: 35,000 electric four-wheelers with an ex-factory price of up to Rs 15 lakh along with 20,000 strong hybrid four-wheelers with ex-factory price of up to Rs 15 lakh are given incentives
- Buses: 7,090 e-buses having an ex-factory price of up to Rs 2 crore are eligible
- E-rickshaws: Only those with ex-factory price of up to Rs 5 lakh are eligible
Government is also working on the infrastructure to support the electric vehicles across the country. Electric charging stations will be setup in cities & along-side highways. Government will be providing assistance for setting up charging stations as well.
The primary objective of the scheme is to reduce the use of fossil fuel such as petrol & diesel. It will reduce the environmental pollution.