Continue FAME subsidy till EV penetration touches 10%: Greaves Electric CEO

The government subsidy for the purchase of electric vehicle (EV) to the vehicle makers should continue till the market reaches an EV penetration of 8-10 per cent, said a top official of Greaves Electric Mobility Private Ltd.

“FAME (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles in India-II) subsidies have played a critical role in encouraging consumers to adopt EVs. It is essential that the subsidy allocation to OEMs (original equipment manufacturers) continues, till the market reaches an EV penetration of 8-10 per cent,” said Sanjay Behl, CEO and Executive Director of Greaves Electric Mobility Private Limited (GEMPL).

Greaves Electric Mobility is a subsidiary of Greaves Cotton Limited (GCL).