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Modi government extends duration of FAME-2 scheme; E-vehicles to go cheaper

FAME-2

New Delhi: FAME-2 Scheme Extended: For the past few days, FAME 2 scheme is in constant discussion. Today the topic of discussion of this scheme is the extension of two years in its duration as decided by the government. Let us tell you, this scheme was initially scheduled to end on March 31, 2022, but now its date has been extended to March 31, 2024. Which will have a direct impact on the sales of electric vehicles, especially in the two-wheeler and three-wheeler segments.

Reduced Electric Scooter Price

If you have forgotten, let us tell you that the government recently introduced an amendment in the FAME 2 scheme, in which the subsidy given for new electric two-wheelers has been increased by 50 per cent to Rs 15,000. per kWh. Earlier, there was a subsidy of Rs 10,000 per kWh on the purchase of eligible electric two-wheelers in India. Due to this change, the price of electric scooters Ather 450X, TVS iQube Electric, and Revolt RV400 present in the market has now become close to Rs 1 lakh.

Massive Electric Vehicle Adoption Plan

The FAME-2 scheme was launched in April 2019 with a plan to adopt electric vehicles in India and with a budget of Rs 10,000 crore. The Government of India intends to introduce a subsidy for more than 55,000 passenger vehicles within the ambit of this EV scheme. These include one lakh electric two-wheelers, 5,00,000 three-wheelers and 7,000 e-buses. However, according to the FAME-2 portal, only 78,000 e-vehicles have been sold in the country so far. The interesting thing here is that under the Fame-2 scheme, the benefit of subsidy is given to those electric two-wheelers, which have a range of 80 km on a single charge and a top speed of 40 km per hour.

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