Govt. to roll out FAME-III soon; might include hybrids

The government will continue to offer subsidies on electric 2-wheelers and 3-wheelers.

According to a media report, the government of India is likely to roll out the third installation of the FAME scheme (Faster Adoption and Manufacturing of Electric Vehicles).

The report states that FAME-III could be announced within the first 100 days of the new government taking charge. The Rs 10,000 crore incentive scheme might include hybrid vehicles instead of electric cars.

Under FAME-III, the government will continue to offer subsidies on electric 2-wheelers and 3-wheelers. Government-owned buses are also expected to receive the benefits of the scheme. That being said, the authorities are yet to reach a final decision on whether to include electric cars and taxi aggregators in the FAME-III scheme.

After FAME-II ended on March 31, 2024, the government introduced the Electric Mobility Promotion Scheme (EMPS) with a total allocation of Rs 500 crore. EMPS was a temporary measure until the general elections were over. It is set to lapse in July 2024.

As per the report, companies seeking incentives on the sale of electric vehicles will have to apply for fresh certification under the new scheme.

Source: ET Auto