The Indian government has resumed subsidies under the FAME 2 scheme for all-electric vehicle manufacturers like Ola Electric, TVS, Ather Energy, TVS, Vida, and many more. The cumulative subsidy amount to be allocated is Rs. 500 crore.
EV manufacturers Ola Electric, Ather, TVS Motors and Vida are under the government’s radar as they were found not abiding by the standards of the FAME 2 policy. It has been noticed that these e leading EV brands were selling the chargers separately as accessories to meet the threshold of Rs 1.5 lakh ex-showroom for further availing the subsidy. Following this, FAME 2 subsidy was stopped temporarily. As a result, these manufacturers issued refunds to their existing customers.
On seeing the gaps, the government has now decided to continue with the FAME 2 subsidy to these 4 top EV two-wheeler manufacturers. Here’s how the payout will be divided:
FAME 2 subsidy is applicable to EV 2-wheelers that:
Reserves of lithium were identified in Jammu and Kashmir, which may help in reducing the cost of EV batteries and might make EV scooters more affordable. Thereby increasing the adoption of these breakthrough vehicles even in small cities & towns.
Before you go, do check out - TVS Apache RTR 310 Streetfighter Launching in India - When?
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