New Delhi: The government has announced an outlay of ₹10,000 crore for Phase 2 of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles, or FAME 2 scheme, to boost electric mobility and increase the number of electric vehicles in commercial fleets. Mint takes a look at the FAME 2 scheme and what it means for electric vehicles as well as the auto industry in India.
What are the salient features of FAME 2 scheme?
The outlay of ₹10,000 crore has been made for three years till 2022 for FAME 2 scheme. The centre has sanctioned ₹8,596 crore for incentives, of which ₹1,000 crore has been earmarked for setting up charging stations for electric vehicles in India. The government will offer the incentives for electric buses, three-wheelers and four-wheelers to be used for commercial purposes.
