FAME II Scheme of Rs 10K Crore Approved By The Union Cabinet

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Fame II Scheme of Rs 10K Crore Approved By The Union Cabinet

PM Narendra Modi together has approved the new FAME II scheme, which will come into effect on 1st April, 2019. The new FAME [Faster Adoption and Manufacturing of Electric Vehicles in India] scheme is the extension of the FAME I scheme, introduced back in 2015. The government has approved the allotment of Rs 10,000 crore towards electric vehicles and its infrastructure for next two years. Besides the adoption of electric vehicles, hybrids and plug in hybrids the new FAME II scheme will take into consideration electrification of public transport and setting up electric charging infrastructure in the country. There will be total 2,700 charging stations established in smart cities, metros, hilly states, other million plus cities as well as in highways after every 25 km. The Three-wheeler and four-wheeler used for pubic and commercial purposes along with electric buses will receive incentives from the state transport corporations.

Pawan Goenka, Managing Director, Mahindra & Mahindra, stated: “We applaud the approval of FAME II scheme by the Union Cabinet. The new outlay of Rs 10,000 crore over a period of three years provides a stable policy to promote green mobility in India. It addresses the key issues including National Energy Security, Mitigation of the adverse impact of vehicles on the environment and Growth of domestic technology and manufacturing capabilities. The revised FAME II removes all the uncertainty and will put Electric Vehicles in the fast lane. Mahindra supports the Central Government’s focus to boost EVs in public transportation and now requests local authorities to help facilitate plying of electric vehicles on Indian roads.” “Government support with the FAME II scheme is holistic and includes focus on charging Infrastructure with a clear emphasis on “Make in India”. We feel that it is now the responsibility of suppliers, OEMs and mobility service providers to invest in EVs and make India’s EV dream become a reality”.

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FAME II Scheme of Rs 10K Crore Approved By The Union Cabinet
FAME II Scheme of Rs 10K Crore Approved By The Union Cabinet

SMEV (Society of Manufacturers of Electric Vehicles), also released a statement, stating: “We are thankful to the government for accepting our demands for a long-term scheme with substantial fund support. The support would encourage associated industry players to invest in the sector, which will further help in creating an ecosystem, locally. We look forward to seeing the final notification from the Ministry, which will give us clarity on the government’s roadmap of e-mobility.”

Ayush Lohia, CEO, Lohia Auto, said, “The Rs 10,000 crore package will make two- and three-wheeler electric vehicles very attractive to customers as it would end up bringing down their costs compared to petrol vehicles. It will also increase the sales push, consumer acceptance and help build a customer base. We welcome the government proposal to establish EV charging infrastructure, whereby close to 2,700 charging stations will be installed in metros, other million-plus cities, smart cities and cities of hilly states across the country, which is going to give a major push to e-vehicle users.”

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Shreya Neogy

Shreya Neogy

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