The Centre has allocated Rs 564 crore for the promotion of electric vehicles

The Ministry of Heavy Industries approved the FAME India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme phase II.

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The Centre has allocated Rs 564 crore for the promotion of electric vehicles

The Centre allocated Rs 564 crore to roughly 1.65 lakh electric vehicles under Phase II of the FAME plan until November 25 this year and sanctioned cash to various state transport enterprises under the scheme for 6,315 electric buses.

The Ministry of Heavy Industries approved the FAME India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme phase II. In addition, the Ministry has approved Rs 500 crore for approximately 2,877 Electric Vehicle (EV) Charging Stations in 68 cities across 25 States/UTs.

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Under the FAME initiative, the Ministry also sanctioned Rs 108 crore for 1576 charging stations spread over 9 Expressways and 16 Highways, said Minister of State for Heavy Industries Krishan Pal Gurjarin in Lok Sabha on Tuesday.

Depending on the outcomes and experience gained during Phase-I of the FAME India Scheme, and following consultations with all stakeholders, including industry and industry associations, the Government notified Phase-II of the FAME India Scheme for a period of five years beginning in April 2019, with total budgetary support of Rs. 10,000 crores.

According to him, the second phase focuses on encouraging the electrification of public and shared transportation through subsidies. Over 7000 e-Buses, 5 lakh E-3 Wheelers, 55000 E-4 Wheeler Passenger Cars, and 10 lakh E-2 Wheelers have received subsidies from the Ministry thus far.

Approximately 2.8 lakh hybrid and electric vehicles were supported by a demand incentive totaling Rs 359 crore in the Scheme’s First Phase. In the first phase, the Ministry also approved 425 electric and hybrid buses for distribution around the country at a cost of approximately 280 crores. Furthermore, it had sanctioned around 520 Charging Stations for Rs. 43 Crore under Phase-I of the FAME India Scheme, according to the Minister.

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The Centre has allocated Rs 564 crore for the promotion of electric vehicles
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The Ministry of Heavy Industries approved the FAME India (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India) scheme phase II.
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THE POLICY TIMES
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