Hybrid and Electric Vehicles (EVs) will continue to receive incentives under the FAME (Faster Adoption and Manufacturing of (hybrid &) Electric vehicles) scheme in India.
The FAME India programme has been extended up to March 31, 2018, or till the launch of Phase-II of the scheme by Niti Aayog for hybrid and EVs.
Under the scheme hybrid and electric vehicles receive sops up to Rs 29,000 for bikes and Rs 1.38 lakh for cars, thereby reducing the price for buyers.
"The period of the FAME-India Scheme is further extended for a period of six months, i.e., up to March 31, 2018, or till launching of Phase-II of the Scheme by Niti Aayog, whichever is earlier," the Department of Heavy Industries said in a notification.
The government of India has an ambitious aim of becoming 100 percent electric vehicle nation by 2030, and the FAME programme is a step towards achieving the goal.
The programme is aimed at incentivizing all vehicle segments, including two-wheelers, three-wheelers, passenger four-wheeler vehicle, light commercial vehicles (LCV), and buses. The programme includes hybrid and electric technologies such as a strong hybrid, plug-in hybrid, and battery electric vehicles.
The extension of incentives for hybrid and electric vehicle by the government of India is indeed in the right direction for automobile manufacturers. Till Niti Aayog establishes the Phase-II of the programme, buyers can benefit from the incentives and help reduce pollution to a certain extent.