Prime Minister will launch the second phase of the FAME India scheme on September 7. The second phase will offer incentives for mass adoption of electric vehicles with an expenditure of Rs 5,500 crore. The layout of the upcoming scheme has been prepared by an inter-ministerial panel and it is expected that it will soon be tabled before the Union Cabinet for approval.
The sources have informed that prime minister would launch the scheme at the inaugural session of the ‘MOVE’. MOVE is a global mobility summit scheduled on September 7-8 in the presence of several global CEOs from the automotive sector.
Ministry of Heavy Industries and Public Enterprises has stretched the date of Phase-I of FAME India Scheme till 30 September 2018 or till another one is approved by the cabinet.
FAME India Scheme which stands for Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles, was launched in 2015 under National Electric Mobility Mission (NEMM), strives at promoting eco-friendly vehicles in the country and is looked by Heavy Industries Ministry.
The objective is to provide fiscal and monetary incentives for adoption and market creation of both hybrid and electric technologies vehicles in the country. It also directs to provide incentives to all vehicles including two-wheelers, three wheeler auto, passenger four-wheeler vehicle, light commercial vehicles, and buses.
The upcoming phase will have a time span of five years and will offer a subsidy to all categories of electric vehicles, including two-wheelers, three-wheelers, and four-wheelers including taxis and electric buses used in public transportation. It will even promote green vehicles and keep a check on pollution.
Officials also shared that the upcoming FAME II will also work to set up massive charging infrastructure to support electric vehicles. In the second phase of the scheme, battery-operated scooters and motorcycles are eligible for incentives ranging between Rs 1,800 to Rs 29,000 whereas three-wheelers between Rs 3,300 and Rs 61,000. But strong hybrid vehicles which profit from the first scheme will not be eligible for the second phase.
The main ambition behind the FAME schemes is to curb the growing pollution in the country and to add up the latest technology based vehicles which can reduce the pollution.