Government EV push, FAME II ending March 31st 2024, FAME III likely in main budget in July

The faster adoption and manufacturing of electric vehicles II scheme (FAME II) is ending today. Government has given a total subsidy of Rs 11,500 crore under the scheme to manufacturers and consumers.

The FAME II scheme, with a budget outlay of Rs 10,000 crore, was introduced in 2019 for a period of three years. The scheme was targeted to support 7,000 e-buses, 5 lakh e-3 Wheelers, 55,000 e-passenger cars and 10 lakh e-two wheelers. Later another Rs 1500 crore was allotted for the scheme. As of 30th March, 15,42,452 electric vehicles have been subsidized under the scheme. It includes 13,64,929 two-wheelers, 15,71,71 three-wheelers and 20,352 four-wheelers.