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FAME II: Electric Vehicles to Get Cheaper by as Much as ₹2.5 lakhs
March 05, 2019
The second phase of the Faster Adoption and Manufacturing of Electric Vehicles II (FAME II) was announced by the government recently. Under this, the Union Cabinet approved ₹10,000 per kWh worth of incentive for the purchase of e-vehicles. This translates to savings of ₹20,000-40,000 for two-wheelers with a battery capacity of 2-4 kWh, ₹50,000-100,000 for three-wheelers with a battery capacity of 5-10 kWh, and ₹1.5-2.5 lakh for four-wheelers with battery capacity of 15-25 kWh. The scheme will be implemented on April 1, 2019, and remain active for up to 3 years.
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