You can download the FAME Phase-II Scheme Notification PDF for free by using the direct link provided below on the page.
FAME Phase-II Scheme Notification PDF
The government has recently given the green light to Phase-II of the FAME Scheme, which stands for Faster Adoption and Manufacturing of Hybrid and Electric Vehicles. This scheme comes with a whopping budget of Rs. 10,000 Crore and will be implemented over a period of 3 years, starting from April 1st, 2019. Out of this substantial budget, a significant chunk, approximately 86 percent, has been allocated for Demand Incentives. The primary goal of this allocation is to create a strong demand for xEVs (which stands for electric vehicles, hybrid vehicles, and other eco-friendly alternatives) across the country.
By providing these demand incentives, the government aims to encourage more people to embrace xEVs and contribute to a cleaner and greener environment. These incentives can come in various forms, such as financial benefits, tax exemptions, or subsidies, making the transition to xEVs more affordable and accessible for the general public.
The government’s focus on creating demand for xEVs is a crucial step towards reducing our dependence on fossil fuels and mitigating the adverse effects of pollution and climate change. By promoting the adoption of electric and hybrid vehicles, we can significantly reduce carbon emissions and work towards a sustainable future.
This ambitious initiative not only benefits the environment but also has a positive impact on the automotive industry. The increased demand for xEVs will drive the manufacturing sector to produce more eco-friendly vehicles, leading to technological advancements, job creation, and economic growth. It’s exciting to see the government’s commitment to promoting electric and hybrid vehicles through the FAME Scheme. This scheme, with its substantial budget and focus on creating demand, has the potential to revolutionize the transportation sector in our country. With the implementation of Phase-II of the FAME Scheme, we can expect to witness a significant increase in the number of xEVs on our roads, contributing to a cleaner and healthier environment for all.
FAME Phase-II Scheme Notification Download
- In Phase-II of the FAME Scheme, the government has set ambitious targets to generate demand for various categories of xEVs. The aim is to support the adoption of 7,000 e-Buses, 5 lakh e-3 Wheelers, 55,000 e-4 Wheeler Passenger Cars (including Strong Hybrid), and a whopping 10 lakh e-2 Wheelers. It’s important to note that these numbers are not set in stone. Depending on the demand and uptake of different categories of xEVs, the government has allowed for flexibility. This means that the numbers mentioned may vary, as the scheme allows for the reallocation of funds between different segments based on demand and usage.
- To ensure that the incentives are targeted towards advanced battery technology and registered vehicles, the scheme will only provide incentives for such vehicles. This focus on advanced battery technology will help accelerate the development and adoption of more efficient and sustainable battery solutions for xEVs. The primary objective of the FAME Scheme is to provide affordable and environmentally friendly public transportation options for the masses. Therefore, the scheme primarily applies to vehicles used for public transport or those registered for commercial purposes in the e-3W, e-4W, and e-bus segments.
- The scheme also recognizes the importance of privately owned registered e-2Ws as a significant segment. This means that even if you own an e-2W for personal use, you can still benefit from the incentives provided under the FAME Scheme. By extending the scheme to cover a wide range of xEVs, including e-Buses, e-3 Wheelers, e-4 Wheeler Passenger Cars, and e-2 Wheelers, the government aims to create a comprehensive ecosystem that encourages the adoption of electric and hybrid vehicles across various sectors.
- This holistic approach not only promotes the use of xEVs for public transportation but also recognizes the potential impact of privately owned e-2Ws in reducing carbon emissions and promoting sustainable mobility on a mass scale. It’s exciting to see the government’s commitment to incentivize the adoption of xEVs through the FAME Scheme. With the support of this scheme, we can expect to witness a significant shift towards greener and more sustainable modes of transportation in the coming years.