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Government Nudges Faster Adoption Of Electric Vehicles: Extends FAME-I Scheme Till 31 March 2019
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The government on Thursday (27 September) extended the first phase of FAME India (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) Scheme for promoting electric and hybrid vehicles by another six months, till 31 March 2019, reported Economic Times.
The FAME India (Faster Adoption and Manufacture of (Hybrid and) Electric Vehicles) Scheme was launched by the Ministry of Heavy Industries and Public Enterprises in 2015 to encourage the production and promotion of electric and hybrid vehicles.
Incentives under the extended scheme from 1 October will be available only to registered vehicles, said a notification by the Heavy Industries Ministry.
However, vehicles powered by conventional batteries will be exempt from the scheme from 1 October. Until now, electric two and three-wheelers powered by traditional lead-acid batteries were eligible for incentives under FAME-I.
FAME II, which was due on 7 September, has been delayed as the Prime Minister's Office (PMO) has sought reworking of the proposal to offer incentives of around Rs 5,500 crore.
Reports suggest that the PMO is in favour of utilising most of the funds to encourage local manufacturing of lithium-ion batteries, as India presently imports these batteries from China.
"The FAME- I scheme is extended for a further period of six months up to 31 March, 2019 or till notification of FAME-II, whichever is earlier," the ministry said. It was extended thrice before.
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