The government has decided to reduce the subsidy under FAME-ll (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two wheelers on or after June 1.
The industry minister is already in the news. The company is demanding Rs 10,000 incentives on per KWh battery. But the central government notified its opposite. They announced the subsidy on electric two wheelers will be 15 percent of the ex-factory price of vehicles from 40 percent at present.
The government implemented this Faster Adoption and Hybrid vehicles (FAME) in India on April 1,2019. And it will be extended 3 years upto March 31,2024.
The government allocated only Rs 10,000 crore rupees incentives for electric two wheelers buyers to adopt EVs more and more. The scheme is exclusively for public and commercial transport in the segments of electric three wheelers, four wheelers and electric buses also.