Same Scheme News Today

EV New Scheme: Officials in the Ministry of Heavy Industries (MHI) said on Friday that the allocation of INR 2,671.33 crore under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme for fiscal 2024-25 will be utilised to subsidise EVs sold till March 31, 2024.

In the previous Budget, the allocation had seen a sizeable increase of 78 percent year-on-year

Companies involved in the charging space also gained after the announcement

Budget Expectations: Leading firms in the automobile industry are expecting the upcoming Interim Budget to focus on promoting green mobility and infrastructure development. They are calling for policies that encourage the adoption of electric vehicles and a rationalized duty structure and GST for luxury cars. The industry also hopes for consistent policies and no surprises in the budget. Additionally, there are expectations for continued support for electric vehicles through the FAME scheme and ...

The L-G lauded agencies including the DDA, PWD, NDMC, MCD, and Delhi Police among others, their employees, workers, and the people of the NCR for successfully partnering to get Delhi ready to be able to successfully host the Summit.

Kinetic Green: Speaking at Vibrant Gujarat Global Summit in Gandhinagar, she said the FICCI committee had submitted a comprehensive recommendation, including continuation of the FAME scheme, to the government for acceleration of electric mobility.

Budget For EVs: The demand for electric vehicles (EVs) in India has surged by over 100% since 2017. In January-November 2023, EV sales skyrocketed to 89,137 units, doubling from 44,489 units in the corresponding period of 2022. Tata Motors, the EV leader, anticipates a slight moderation in 2024 due to a high base. However, they forecast annual electric car sales to reach 1 million units by 2028, supported by new launches and expanded charging infrastructure. Tata Motors aims for EVs to constitut...

Delhi government extends electric vehicles (EV) policy until March 2024, awaiting cabinet approval. Two-wheelers eligible for Rs 5,000 subsidy per kWh of battery capacity. Three-wheelers eligible for Rs 30,000 subsidy, regardless of cost or battery capacity. Four-wheelers eligible for Rs 10,000 subsidy per kWh of battery capacity, limited to first 1,000 EVs. New EV policy, Delhi EV policy 2.0, almost finalized with increased incentivization and parking incentives.

Fame Ii: The scrapping of the Faster Adoption and Manufacturing of Electric Vehicles in India-II (FAME-II) scheme in March 2024 may result in a reduction of sales in the short term, but will not impact in the long term, said Anirudh Ravi Narayanan, CEO of BNC Motors Pvt Ltd. The company makes electric motorbikes and scooters.

EV Policy: The government is actively engaging with both domestic and international stakeholders to formulate a policy aimed at boosting the local production of electric vehicles (EVs). Discussions are underway to involve potential investors from countries like Germany, the UK, and South Korea.