FICCI seeks extension of FAME II, sops for adoption of over 30 mn EVs in 5 yrs

Tith the time period for the current FAME II scheme nearing completion in March 2024, industry has called for the continuation of the scheme for the next five years for enabling upfront near price-parity for EVS vis a vis ICE vehicle, and to help increase the adoption of EVs over the next few with a review at the end of three years.

- NIVEDITA MUKHERJEE

In a proposal submitted to the Ministry of Heavy Industries, FICCI draws attention to the risk of a sudden withdrawal or discontinuation With of upfront price incentives which will lead to up to 25 per cent price increase of EVs. The Government has approved Phase-II of FAME (Faster Adoption & Manufacturing of Electric Vehicles ) with an outlay of Rs 10,000 crore for a period of 3 years commencing from 1 April 2019.