The Government of India has launched a scheme called FAME stands for Faster Adoption and Manufacturing of Hybrid and Electric vehicles, to boost sales of eco-friendly vehicles in the country. The newly launched scheme is a part of the Government’s National Mission for Electric Mobility. The ambitious scheme forecasts to provide Rs 795 crore support till 2020 for the manufacturing and sale of electric and hybrid vehicles.
The first Phase of the scheme will be implemented over a two year period in FY15-16 and FY16-17. Based on the results, the scheme will be reviewed for implementation after March 31, 2017, with appropriate fund allocation.
The scheme will have four focus areas. They are,
- Technology development
- Demand creation
- Pilot projects
- Charging infrastructure
As per the FAME-India scheme, the planned incentives are,
|Vehicle Type||Government Incentive|
|Scooters and Motorcycles||Rs 1800 to Rs 29000|
|Three Wheelers||Rs 3300 to Rs 61000|
|Four Wheelers||Rs 13000 to Rs 1.38 lakh|
|Light Commercial Vehicles||Rs 17000 to Rs 1.87 lakh|
|Bus||Rs 34 lakh to Rs 66 lakh|