Automotive | Electric Mobility | Government Policies
The Indian government has extended the FAME-II scheme (Faster Adoption and Manufacturing of Electric Vehicles) for electric mobility by four months until July 31, 2024, to avoid disruption in the EV ecosystem. Originally set to expire on March 31, 2024, the extension includes a Rs. 500 crore allocation for demand incentives for electric two-wheelers and three-wheelers. The Expenditure Finance Panel has recommended Rs. 10,000 crore for the upcoming FAME-III scheme.
NotesA practical and sensible move. Interactions with the Indian EV stakeholders suggested significant concerns around the uncertainties in this scheme, now they breathe free at least for a couple of months.
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