Electric and hybrid e-vehicles will continue to attract incentives under FAME

Electric and hybrid vehicles will continue to attract incentives for at least another six months under the FAME India programme as it has been extended up to March 31, or till the launch of Phase-II of the scheme by Niti Aayog. The scheme offers sops on electric and hybrid vehicles of up to Rs 29,000 for bikes and Rs 1.38 lakh for cars, thereby lowering their price for buyers.

The period of the FAME-India Scheme is further extended for a period of six months i.e. up to March 31, 2018 or till launching of Phase-II of the Scheme by Niti Aayog, whichever is earlier,” the Department of Heavy Industries said in a notification. Niti Aayog will chalk out the implementation plan of the FAME-India programme, as the government eyes the ambitious goal of India becoming a 100 percent electric vehicle nation by 2030.

The scheme requires synchronised efforts of different departments of the government, including the Power Ministry; Ministry of Road Transport and Highways; and Heavy Industries Ministry. The pilot phase (Phase I) of the scheme was initially planned for a period of two years up to March 31, 2017. However, it was extended earlier up to September 30, 2017 and has now further been extended up to March 31, 2018. With an aim to promote eco-friendly vehicles, the government had launched the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-India) scheme in 2015.

The FAME India Scheme is aimed at incentivising all vehicle segments, including two wheeler, three wheeler auto, passenger four wheeler vehicle, light commercial vehicles and buses. The scheme covers hybrid and electric technologies like strong hybrid, plug in hybrid and battery electric vehicles.

Credits: http://www.moneycontrol.com/news/business/hybrid-e-vehicles-continue-to-attract-incentives-under-fame-2396195.html

 

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