TARGET FOR MANUFACTURING ELECTRIC VEHICLES
TARGET FOR MANUFACTURING ELECTRIC VEHICLES
In order to promote manufacturing and adoption of electric vehicle in India, the Central Government launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme in 2015 on pan India basis with an aim to reduce dependence on fossil fuel and to address issues of vehicular emissions. Further, Phase-II of FAME India Scheme was implemented for a period of 5 years w.e.f. 01stApril, 2019 with a total budgetary support of Rs. 11,500 Crore.
The incentive/ concession Under FAME-India Scheme phase-II is provided to consumers (buyers/end users) in the form of an upfront reduction in purchase price of hybrid and electric vehicles to enable wider adoption, which is reimbursed to the OEM (EV manufacturers) by Government of India.
This information was given by the Minister of State for Heavy Industries and Steel, Shri Bhupathi Raju Srinivasa Varma in a written reply in the Rajya Sabha today.