JMK Research & Analytics

Under FAME II, 70% funds remaining to be utilized The Government of India (GoI) had 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. 100% of the budget allocated at the…

5 industrial corridors being promoted as EV, battery manufacturing hubs in Rajasthan As announced in the state EV policy, the government of Rajasthan in January 2023 affirmed that it will work on developing five industrial corridors as Electric Vehicle (EV) and batteries manufacturing sectors along with incentives to promote use of EVs. The state EV policy mentions that the government envisages to enable an environment for manufacturing of EVs and batteries. The five industrial regions shortlisted for the development include:…

India witnessed a spectacular EV show in 2022 with 212% y-o-y growth The year 2022 has been a fantastic year for electric vehicle (EV) sales in India. The annual EV sales crossed the 1-million mark for the first time in 2022, amounting to 10,75,859 units. This implies a 212% growth y-o-y from 3,45,067-unit sales in 2021. This stupendous growth was led by states like Uttar Pradesh (15.2%), Maharashtra (12.7%), and Karnataka (8.8%), which were the top 3 states with maximum…