Central government grants incentives for 16.15 lakh electric vehicles under FAME-II scheme
New Delhi| The central government reported that 16.15 lakh electric vehicles (EVs) have been given incentives under the FAME-II scheme brought to increase the adoption rate of electric vehicles. This includes 14.27 lakh electric two-wheelers, 1.59 lakh electric three-wheelers, 22,548 electric carriages and 5,131 e-buses.
Additionally, 10,985 EV public charging stations (PCS) have been approved, of which 8,812 have also been allocated for installation. As of October 31, 2024, a total of Rs 8,844 crore has been spent, the Ministry of Heavy Industries reported. Of this, Rs 6,577 crore has been spent on subsidies, Rs 2,244 crore on capital assets and Rs 23 crore on other items.
The scheme also includes a phased manufacturing program and has also supported important policy initiatives, such as reducing GST on EVs and enabling state EV policies. The first phase of the plan was initially approved for a period of two years, beginning on April 1, 2015.
Following the successful implementation of the scheme, Phase II FAME-II was launched in 2019 with an outlay of Rs 11,500 crore, providing incentives for electric vehicles including two, three, four wheelers, electric buses and EV public charging stations.
In total, 25,202 public charging stations for EVs have been installed in the country so far. Karnataka leads with 5,765 EV public charging stations, followed by Maharashtra with 3,728 and Uttar Pradesh with 1,989 in second and third place respectively.
The Ministry of Heavy Industries is emphasizing on EV adoption in India. On September 29, 2024, the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-Drive) scheme was notified by the ministry to accelerate EV adoption, establish charging infrastructure and promote the development of EV manufacturing ecosystem in the country.
The scheme has a budget of Rs 10,900 crore for a period of two years. Out of the total allocated budget, Rs 2,000 crore has been earmarked for setting up EV public charging stations (EVPCS).
