The Union government has extended FAME (Faster Adoption and Manufacturing of Electric Vehicles in India) phase 2 scheme by two years till 31st March 2024.
The Department of Heavy Industry had announced the extension of its ambitious scheme to promote electric mobility by two more years by issuing the notification in the Central government’s Gazette of India.
The FAME (Faster Adoption and Manufacturing of Electric Vehicles in India) phase 2 scheme dated 8th March 2019 was for the period of 3 years and is to be end on 31st March 2022. As per the given new notification by the department, now the scheme has been extended for another 2 years ie till 31st March 2024.
The Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME-II) scheme, which has a financial outlay of Rs 10,000 crore to promote EVs by extending buyer subsidies, was first announced as a three-year program effective from April 2019. There was no change mentioned in the financial allocation to the scheme.
The project has fallen behind its targets and only a fraction of the intended number of EVs have been sold under the program so far. The target was to sell 1 million electric two-wheelers, 500,000 three-wheelers, 55,000 cars and 7,000 buses. But only 78,000 EVs in total have been sold under the scheme so far.
On June 11th this year, the Department of Heavy Industries (DHI) announced partial modifications to the Faster Adoption and Manufacturing of Electric Vehicles in India scheme (FAME II), the flagship scheme of the Central Government which paves the way for electric vehicle (EV) adoption in India.