Sunday, April 14, 2024
Outlook India
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Fame Ii

The subsidies for electric vehicles have been increased to Rs 7,048 crore, with Rs 5,311 crore dedicated to electric two-wheelers.

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 Heavy Industries Ministry has notified changes for reducing subsidy provided under FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two-wheelers registered on or after June 1, 2023

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

The policy has been devised not only to modernise Indian roads but also to boost replacement demand for OEMs and financial institutions