Govt Extends EV Scheme by 2 Years

The department of heavy Industries on Friday announced the extension of the government’s flagship electric vehicles promotion scheme by a period of two years till March 2024.

The Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME-II) Scheme, which has a financial outlay of Rs.10,000 crore, to promote EVs by extending buyer subsidies, was first announced as a three year programme effective from 2019.

The circular did not mention any change in the financial allocation to the scheme. The project has fallen behind its targets and only a fraction of the intended number of EVs has been sold under the programme so far. About 78,000 EVs in total have been sold under the scheme, as per the FAME-II website, against the intended target of 1 million electric two-wheelers, 500,000 three-wheelers, 55,000 cars and 7,000 buses. S-ET

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