FAME II subsidies: FAME-II subsidies for e-vehicles till March-end or until funds are available: Govt
The heavy industries ministry said in the statement that the second phase of its flagship scheme to promote adoption of EVs in India — FAME II — was “fund- and term-limited”.
“It is hereby informed that the scheme is fund and term limited scheme i.e. the subsidies for demand incentive will be eligible for e-2w, e-3w and e-4w sold till March 31, 2024 or till the time funds are available, whichever is earlier,” it added.
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As per the revised outlay, electric two-wheelers, electric three-wheelers, and electric four-wheelers are eligible to avail of subsidies to the tune of Rs 7,048 crore. Besides, Rs 4,048 crore has been allocated towards grants for creation of capital assets, whereas Rs 400 crore has been earmarked for the ‘others’ category.
The heavy industries ministry said in the statement that the second phase of its flagship scheme to promote adoption of EVs in India — FAME II — was “fund- and term-limited”.
“It is hereby informed that the scheme is fund and term limited scheme i.e. the subsidies for demand incentive will be eligible for e-2w, e-3w and e-4w sold till March 31, 2024 or till the time funds are available, whichever is earlier,” it added.
Discover the stories of your interest
As per the revised outlay, electric two-wheelers, electric three-wheelers, and electric four-wheelers are eligible to avail of subsidies to the tune of Rs 7,048 crore. Besides, Rs 4,048 crore has been allocated towards grants for creation of capital assets, whereas Rs 400 crore has been earmarked for the ‘others’ category.