Government To Offer Incentives Of Rs 1.5 Lakh On Electric Vehicles

  • Mar 20, 2019

The government of India has announced incentives of Rs 1.5 lakh each on 35,000 electric vehicles with an ex-factory price of up to Rs 15 lakh. The second phase of FAME (Faster Adoption and Manufacturing of Electric Vehicles in India) scheme will get underway from April 1st this year. A total of 10,000 crores has been put in across various auto divisions, including electric buses, electric cars, electric two-wheelers, hybrid cars, and electric rickshaws.

Under FAME-II, the incentives have grown Rs 1.38 lakh as compared to the previous FAME scheme. The hybrids, however, get an incentive of up to Rs 13,000. This is the same amount announced under FAME-I but withdrawn later on. But, according to the reports, under FAME-II this incentive value is limited to 20,000 hybrid cars of ex-factory price up to Rs 15 lakh.

The declared incentives will be valid for three years under the FAME-II scheme and the outgoing cars which will be benefitted out of the same are the Mahindra eVerito and the Mahindra e2o plus. Additionally, electric cars launching soon in the Indian market will also benefit from the scheme. This includes the new Maruti WagonR EV, the Tata Tigor EV, and the Tata Altroz EV. However, the Hyundai Kona Electric and more cars with the same price bracket will not get any incentives under FAME-II as they are expected to get a higher price tag than what’s covered under the scheme.

Aside from incentives, the government is planning to set up around 2,700 new charging stations across the country, including hill stations. This will be a big move under FAME-II as far as infrastructural development is concerned.


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