The second phase of the FAME 2 scheme that is expected to drive the government’s mission to have 25% per cent of all vehicles sold in 2030 to be electric. The second phase of the Faster Adoption and Manufacture of Electric Vehicles is expected to launch around this month and have a total outlay of Rs 5,500 crore spanning over the next five year.
While the first phase was mainly targetted at bringing electric mobility to public transport, the second phase is likely to bring an array of incentives, exemptions and registration benefits to make consumer electric vehicles more viable for manufacture and sale in India. In fact, this phase is also likely to see the inclusion of fully electric vehicles, hybrids and even mild hybrids.
Interestingly no target has been set for EVs over the next five years. Instead, the scheme will focus on boosting demand for EVs and creating the charging infrastructure, said a senior government official to the PTI. Read More