Electric two-wheeler makers on Saturday termed as “a phenomenal move” by the government to increase subsidy for such vehicles by 50 per cent under the FAME II scheme saying it would be a game changer in the adoption of eco-friendly vehicles.
The government had on Friday made a partial modification of the scheme for Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II), including increasing the demand incentive for electric two-wheelers to ₹15,000 per KWh from the earlier uniform subsidy of ₹10,000 per KWh for all EVs, including plug in hybrids and strong hybrids except busses.
In the latest modification, the department of heavy industries also capped incentives for electric two-wheelers at 40 per cent of the cost of vehicles, up from 20 per cent earlier.
