FAME II scheme has made compulsory for electric vehicles to feature 50% localisation for receiving subsidies

Last Updated: April 23, 2019

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FAME II scheme has made compulsory for electric vehicles to feature 50% localisation for receiving subsidies

FAME II scheme has made compulsory for electric vehicles to feature 50% localisation for receiving subsidies

23 April 2019 Current Affairs: The government notified the second phase of the FAME India scheme with a Rs 10,000-crore outlay to encourage adoption of electric and hybrid vehicles.
Under the second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) scheme, 10 lakh registered electric two-wheelers with a maximum ex-factory price will be eligible to avail incentive of Rs 20,000 each.
It will also support 5 lakh e-rickshaws having ex-factory price of up to Rs 5 lakh with an incentive of Rs 50,000 each.
FAME-II will offer an incentive of Rs 1.5 lakh each to 35,000 electric four-wheelers with an ex-factory price of up to Rs 15 lakh, and incentive of Rs 13,000 each to 20,000 strong hybrid four-wheelers with ex-factory price of up to Rs 15 lakh.
It will support 7,090 e-buses with an incentive of up to Rs 50 lakh each having an ex-factory price of up to Rs 2 crore.

Daily Current Affairs 2019



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