Electric Vehicles

FAME II Revision: 21% average price hike by E2W OEMs and over 55% decline in sales in June 2023 On May 19, 2023, the government announced reduction in FAME-2 subsidy on electric two wheelers registered on or after June 1, 2023. For electric two wheelers, the demand incentive is now INR 10,000/kWh which was earlier INR 15,000/kWh. Furthermore, the incentive cap has been scaled down from 40% (before June 1, 2023) of the E2W’s ex-factory price to 15%. Table 1:…

Under FAME II, 70% funds remaining to be utilized The Government of India (GoI) approved the scheme titled ‘Faster Adoption and Manufacturing of Electric (& Hybrid) Vehicles in India’ (FAME India) in March 2015 for a period of 2 years. On 8th March 2019, the Ministry of Heavy Industries (MHI) notified Phase-II of the Scheme for a period of 5 years, commencing from 1st April 2019, with an outlay of INR 10,000 crore. The FAME II subsidy is a crucial…

5 industrial corridors being promoted as EV, battery manufacturing hubs in Rajasthan In January 2023, the government of Rajasthan affirmed its commitment to developing five industrial corridors focused on the Electric Vehicle (EV) and battery manufacturing sectors, as part of its state EV policy. This initiative includes various incentives to promote the use of EVs, with the government aiming to create an environment conducive to the manufacturing of EVs and batteries. The Rajasthan electric vehicle subsidy is a key component…