FAME II scheme gains approval with effect from April 1, 2019
By Jim Gibbins - 1st March 2019
New Delhi – The Union Cabinet of India has approved the proposal for the implementation of phase II of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) with a fund allocation of USD1.54bn over the next three years, with effect from April 1, 2019. FAME I is to close with effect from March 31, 2019. This should then be in line with fortifying the National Electric Mobility Mission Plan 2020 (NEMMP)2, which aims to achieve electrification of cars, bikes, light commercial vehicles and city buses by 2020.
FAME II plans to support one million e-two-wheelers, 500,000 e-three-wheelers, 55,000 four-wheelers and 7,000 buses. The benefits of incentives will also be extended to those vehicles which are fitted with advance batteries like lithium-ion batteries and other new technology batteries.
