With FAME initiative back in the year 2015, the Phase I came in power to give way to electric auto innovations in India with electric scooters, hybrid cars, and electric buses. After, the successful presentation of Phase I, Phase II of FAME is all set to active from April 1, 2019.
And, it is in the news that the government is in benefit the scheme with all they can and right now, it the money for the advancement of the electric vehicle in the country. Of course, money plays an irreplaceable role in the research and development of anything.
FAME is focusing on Hybrid and electric technologies as Mild Hybrid, Strong Hybrid, and Plug-in Hybrid and battery electric vehicles. Moreover, this scheme is all about technology developments and sustainable ways of energy uses and electric infrastructure.
Earlier, everyone was expecting the government to launch the FAME II in September 2018, but it faced some internal promoting issues.
The government offers to declare a subsidy of up to Rs 2.5 lakh for 60,000 electric vehicles and up to Rs 20,000 for 20,000 Hybrid autos that are in purchasing order throughout the next setting three years as it looks to advance the green fuel as electricity in the nation by means of a Rs 10,000 crore budget so far.
What will get affected?
A large part of the assets would see the budget to assign for electric two-wheelers, three-wheelers and public transport, and the TOI sources claimed that the government is looking forward for the sustainable energy change in the country with the Phase II. Indeed, even e-rickshaws are in line to qualify for sponsorship.
That is how everything is in connection to the battery using, a purchaser of Mahindra E-Verito may get an appropriation of around Rs 1.5 lakh, while a purchaser of a better electric bike could get around Rs 40,000. For public electric vehicles, the subsidy would come around as Rs 60 lakh.
The government is probably going to take up this proposition as a significant aspect of Phase II of Faster Adoption and Manufacturing of (Hybrid and Electric Vehicles) India (FAME).
In its offer to bring foreseen effects, the administration is nearly planning from Rs 5,500 crore proposed before.
The plan will become effective from April 1, 2019. That will put Rs 15-lakh on manufacturing plant cost of a vehicle, except for public transports, to profit of the subsidy amount.
The approx. the figure is to the battery power of the cars that is Rs 10,000 for every kWh for all vehicles and Rs 20,000 for each KWh for public transports.
Our sources stated, “The electric charging stations will be in focus on expanding the electric vehicles in urban centers and along to fulfill the exact need. Another spotlight territory will be on building up our ability to build lithium-ion batteries for vehicles.”
In conclusion, the government is offering the subsidy of 60,000 on electric vehicles. However, this also comes with a set of terms and conditions.