FAME

Companies knowingly violated FAME subsidy scheme, finds panel

The report, submitted by the panel earlier this month, counters findings of an earlier probe by a joint secretary in the Ministry of Heavy Industries (MHI) that said some key terms in the FAME were not clearly defined.

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Centre announces new scheme to subsidise electric two and three wheelers
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More in FAME

EV sector may have to wait longer for FAME subsidy extension

The interim budget did not mention an extension of the FAME subsidy, leaving EV makers uncertain about the future of the FAME II scheme. While the government's emphasis on wider adoption of electric public transport and expanding charging infrastructure is positive, clarity on subsidies, taxation, and details of new schemes is needed. The sector also faces challenges such as the need for ample parking space and safe charging points for light electric vehicle charging.
Withdrawal of subsidy on electric vehicles may lead to stagnated growth for 2 years, Ather Energy CEO

"Despite this resilience, such a scenario would still result in one or two more years of stagnated growth, pushing the industry further away from its targets," the CEO of the electric two-wheeler firm said in a statement.
Budget 2024 may see FAME III be unveiled

The budget is expected to allocate INR 10,000-12,000 crore for the scheme. The decision to launch FAME III follows demands from the industry to continue the programme.
What electric two-wheeler makers need from Budget

The Indian EV market continues to expand with rising sales of electric two-wheelers (E2W). E2W sales in FY23 nearly tripled compared to FY22, reaching 7,28,054 units. However, subsidies under the FAME Scheme were reduced, leading to a slowdown in sales earlier this year. Despite this, sales are expected to surpass the previous year's figures but fall short of Niti Aayog's target. Industry players emphasize the need for continued government support, including FAME subsidies and EV tax exemptions.
EV Insurance: Safeguarding your electric vehicle amidst India's green revolution

Navigating India's Shift to Green MobilityAligned with the government’s initiatives to promote EV adoption, India is actively working on establishing a comprehensive public charging infrastructure. As EV owners benefit from the growing convenience and availability of charging stations nationwide, this collaborative effort not only accelerates EV adoption but also emphasises the cooperative spirit driving sustainable transportation forward.
Government considers extending FAME II scheme to FY25

"Additional funds for FAME II can be sought in a vote on account," said a person aware of the matter. The extension would not require multiple approvals as needed for a fresh scheme and will help maintain momentum in the market in the interim, he added. Next year's budget will be a vote on account as general elections are due in April-May.
Central govt moves, TCO economics to help double E-bus fleet next fiscal: CRISIL Ratings

Adoption of e-buses in the private sector remains low. The development of a policy framework to increase participation of this sector, which accounts for about 90% of the bus fleet in the country, will also be critical to speed up the penetration of e-buses.
EV makers bat for continuation of demand incentive scheme

Electric vehicle sales in India are still in a fledgling stage and will need continued government support in the form of subsidy before the industry can firmly establish itself, said manufacturers of electric vehicles and other industry stakeholders during a panel discussion at CII Next Gen Mobility Show 2023.
EV Adoption – Time to up the ante

It is now important that initiatives and efforts at the city-level are given adequate focus. TERI, conducted a city-level readiness and capacity needs analysis on EV planning and deployment action chains. Given the early stages of EV transition and potential for Indian cities to jumpstart EV adoption, TERI tried to understand the status of EV readiness and ranking of Indian cities for EV planning and adoption. Though Indian cities have tremendous potential to accelerate EV adoption, the impact of city-level actions at large has been relatively under-explored with limited successes.
Over INR 5,000 crore subsidy leads to sale of 11.53 lakh EVs under FAME India scheme

The FAME India Phase II Scheme, which started on April 1, 2019, with a budgetary support of INR 10,000 crore for a five-year period, is designed to boost the electrification of public and shared transportation.
Extending FAME benefit to PVs may help boost EV sales: Arun Malhotra

“EV penetration in the country is about 1.5%, but if you take the slightly upper end market and luxury market, it would be around 6% to 7%. Now, the FAME benefit which the government has is only applicable for commercial application. So, 90% of the EV sales do not come under the FAME benefit.”