Rs 5,228 Cr Disbursed Under FAME II So Far: MHI

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Currently, 62 OEMs have registered for demand incentives. The scheme has supported 10,16,887 electric two-wheelers, 1,21,374 electric three-wheelers, and 14,818 electric cars.

Under phase II of the FAME India Scheme, a subsidy amounting to Rs 5,228 crore has been given to electric vehicle manufacturers on selling 11,53,079 electric vehicles as of December 2023. The Ministry Of Heavy Industries further revealed that it also sanctioned Rs 800 crore as a capital subsidy to the three Oil Marketing Companies (OMCs) of the Ministry of Petroleum and Natural Gas (MoPNG) to establish 7,432 electric vehicle public charging stations.

Currently, 62 OEMs have been registered to avail of demand incentives under the scheme. The total claims submitted on the portal till 15/11/2023 amount to Rs 5,094 crore, of which Rs 3,815 crore have been disbursed.

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Greaves Debited FAME Subsidies From Dealer Accounts? – Also Read

This phase mainly focuses on supporting the electrification of public & shared transportation. It aims to support through demand incentives 7090 buses, five lahks e-3 Wheelers, 55,000 e-4 Wheeler Passenger Cars and ten lahks e-2 Wheelers. In addition, the creation of charging infrastructure is also supported under the Scheme.

MHI formulated the FAME India Phase II Scheme for five years from 1st April 2019, with a total budgetary support of Rs. 10,000 crore. Under the FAME-India Scheme phase II, no incentive is given to EV manufacturers. The incentive/ concession is provided to consumers (buyers/end users) through an upfront reduced purchase price of hybrid and electric vehicles to enable wider adoption, which the Government of India will reimburse to the OEM (EV manufacturers).

A total of 10,16,887 electric two-wheelers, 1,21,374 electric three-wheelers, and 14,818 electric cars have been supported under the scheme so far. This information was given by the Minister of State for Heavy Industries, Krishan Pal Gurjar, in a written reply in Lok Sabha today.

Also Read: Future Of EV Retail Similar To Mobile Phone Retail, Feels ElectricPe

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