Friday, April 19, 2024
Outlook India
Outlook Business


They believe this extension will ensure sustained momentum for the sector by emphasising on holistic ecosystem development rather than focusing on buyer incentives alone

The collapse of the subsidy scheme has not only caused operations to stall, and sales to dry up but acute pressure had been caused on dealerships, even customers whose bookings had to be cancelled, the letter said

The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for a period of two years up to March 31, 2024

Also, the Heavy Industries Ministry will resume disbursal of subsidies under the scheme shortly as reports of most of the firms under the ambit of the audits being conducted by India's premier vehicle testing and validation agencies — ICAT and ARAI — have...

There is no proposal at present for an extension of FAME-II beyond March 2024 or introduction of FAME-III

Lithium is considered the lightest metal in the world and is important in manufacturing electric vehicle batteries

The company has claimed in a statement that the new e-scooter is compliant with the government’s FAME2 (Faster Adoption and Manufacturing of Electric Vehicles) policy

While the discovery of lithium-ion reserves in India is welcome news, it will take at least three years before it is viable for commercial use. Till then, the electric vehicle sector will need the government’s support in the form of the FAME II subsidy...

In just more than 3 years, the scheme supported more than 7.45 lakh EVs through demand incentives worth Rs 3,200 crore