Under phase II of the FAME India Scheme, a subsidy amounting to Rs 5,228 crore has been given to electric vehicle manufacturers on selling 11,53,079 electric vehicles as of December 2023. The Ministry Of Heavy Industries further revealed that it also sanctioned Rs 800 crore as a capital subsidy to the three Oil Marketing Companies (OMCs) of the Ministry of Petroleum and Natural Gas (MoPNG) to establish 7,432 electric vehicle public charging stations.
Currently, 62 OEMs have been registered to avail of demand incentives under the scheme. The total claims submitted on the portal till 15/11/2023 amount to Rs 5,094 crore, of which Rs 3,815 crore have been disbursed.
This phase is primarily concerned with assisting in the electrification of public and shared transportation. It intends to assist 7090 buses, five lakhs e-3 wheelers, 55,000 e-4 wheeler passenger cars, and ten lakhs e-2 wheelers through demand incentives. Furthermore, the Scheme encourages the development of charging infrastructure.
MHI developed the FAME India Phase II Scheme for a five-year period beginning on April 1, 2019, with a total budgetary assistance of Rs. 10,000 crore. The FAME-India Scheme phase II provides no incentives to EV manufacturers. The incentive/concession is granted to consumers (buyers/end users) in the form of an upfront lower purchase price of hybrid and electric vehicles, which the Government of India would reimburse to the OEM (EV makers).
The initiative has so far funded 10,16,887 electric two-wheelers, 1,21,374 electric three-wheelers, and 14,818 electric vehicles. Krishan Pal Gurjar, Minister of State for Heavy Industries, provided this information in a written reply to the Lok Sabha today.
