Government’s Big Push to Electric Vehicles, 10,000 Crore Announced
The FAME-II will help close to 10 lakh 2-wheelers, 5 lakh 3-wheelers, 55,000 4-wheelers and 7,000 buses.
The Union Cabinet has finally approved the proposal for introducing the second phase of Faste Adoption and Manufacturing of Hybrid & EVs (FAME II) in India.
The Government has announced Rs 10,000 crore for the new FAME II scheme, which will come into effect from 1st April 2019. The total amount has been granted for the next 3 years. This is the part of the current FAME I scheme, which was introduced on 1st April 2015. The new 10,000 crore announcement is the biggest move to promote EVs. In the FAME-I scheme, the cabinet had announced a total outlay of Rs 895 crores. Also See – Hyundai to launch a range of electric cars in India
The FAME-II will help close to 10 lakh 2-wheelers, 5 lakh 3-wheelers, 55,000 4-wheelers and 7,000 buses. The benefits will be passed on to those vehicles which are equipped with advanced battery like lithium-ion battery. Also See – Tata’s 1st EV for personal buyers to launch in 2020
The new FAME-II Scheme will also give a big push to develop infrastructure to support EVs. The Government aims to set-up close to 2,700 charging stations in metros, other million plus cities, smart cities and cities of hilly states. Read – Maruti Suzuki future plans for India
The Government also plans to install one charging station in a grid of 3km. Adding to it, the charging stations will also be established on the highways. The charging station will be placed on both sides of the roads at a stretch of 25kms.
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