This comes as a relief to electric automobile manufacturers who received certification after 1 April 2020
The Department of Heavy Industries has extended the validity of the Faster Adoption and Manufacturing of hybrid and Electric vehicles second phase (FAME-II) certification of electric vehicles (EVs) for obtaining subsidies to one year from the date of issuance. Earlier, certifications were valid only till 31 March, regardless of the date it was issued.
The second phase of the FAME scheme focuses on supporting electrification of public and shared transportation with an aim to provide subsidies to support electric vehicles, including buses, passenger cars and two-wheelers. It has a budget outlay of Rs 10,000 crore. The scheme forms a quintessential part of the government’s endeavours to promote the usage of eco-friendly vehicles.
This comes as a relief to electric automobile manufacturers who received certification after 1 April 2020. The validity extension would enable such manufacturers to continue receiving subsidies for a year starting from the date of issuance, along with an additional month to renew their certification once validity expires.
Ather Energy, Okinawa Autotech, Ampere Vehicles, Revolt Motors, Bajaj Auto and TVS Motor are some of the automakers who receive subsidies under the scheme.