FAME India II To Be Launched By Narendra Modi In September 2018

By Sukesh

The FAME India II scheme will be launched by Prime Minister Narendra Modi on September 7, 2018. The Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was introduced in India to offer incentives for sales and manufacturing of electric and hybrid vehicles in India.

FAME India II To Be Launched By Narendra Modi In September 2018

The Government of India has allotted a budget of Rs 5,500 crore for the Phase II of the FAME scheme and it will be used in the next five years. The budget is dedicated to offering the subsidy for all types of electric vehicles manufactured and sold in the Indian market.

FAME India II To Be Launched By Narendra Modi In September 2018

An inter-ministerial panel has finalised the modalities of the FAME II scheme and it will be soon placed before the Union Cabinet for approval. The FAME II will be launched at the first session of MOVE global mobility summit in Delhi. The launch will be also witnessed by several global CEOs from the automotive sector.

FAME India II To Be Launched By Narendra Modi In September 2018

The FAME II scheme will offer the subsidy for electric vehicles including two-wheelers, three-wheelers, four-wheelers and commercial vehicles such as taxis and electric buses. But the hybrid vehicles will not avail the benefits of the scheme in the second phase.

FAME India II To Be Launched By Narendra Modi In September 2018

Under the FAME II scheme, the electric two-wheelers will be provided with incentives ranging from Rs 1,800 to Rs 29,000 and the battery-operated three-wheelers will be provided with a subsidy in the range of Rs 3,300 to Rs 61,000. Manufacturers can claim the incentives from the government by the end of each month.

FAME India II To Be Launched By Narendra Modi In September 2018

In 2015, the Phase 1 of the FAME scheme was introduced for a period of two years till March 2017. The scheme was extended for another one year which lasted till March 2018. And finally, the FAME was extended for the last time in April and it will last till the introduction of the FAME II.

FAME India II To Be Launched By Narendra Modi In September 2018

Thoughts On The FAME II Scheme

The FAME scheme is a very good initiative by the government to promote the manufacturing and sales of the electric vehicles. But in the second phase, the hybrid vehicles will not get any incentives and it might be a downside of the scheme. The hybrid vehicles are said to be an alternative solution until the electric vehicles become mainstream in the Indian market.

Read more on: #green vehicles
X

Get Instant Auto Updates From DriveSpark

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Drivespark sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Drivespark website. However, you can change your cookie settings at any time. Learn more