Nonetheless, the Ministry of Heavy Industries denied these experiences.The federal government clarified on Thursday that the FAME-II scheme has not been prolonged past March 31, reported PTI citing officers. Subsidies underneath FAME-II will stay relevant to EVs offered till March 31, 2024, or till funds are exhausted, the ministry had introduced final month.
As issues stand now, the programme’s outlay has been elevated from Rs 10,000 crore to Rs 11,500 crore. The federal government goals for 30 % EV penetration in non-public automobiles, 7 % in business autos, and 80 % in two and three-wheelers by 2030.
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The revised outlay designates Rs 7,048 crore for electrical two-wheelers, three-wheelers, and four-wheelers to obtain subsidies. Moreover, Rs 4,048 crore is allotted for capital asset creation grants, whereas Rs 400 crore is put aside for different functions.
In CY2023, electrical automobile (EV) gross sales in India surged by 48 % in comparison with the earlier 12 months, with a complete of 1,526,319 EVs registered throughout the nation. This marked a big enhance from the 1,025,116 EVs registered in 2022. In accordance with the Vahan Portal’s information, 72,321 electrical four-wheelers had been registered in CY2023, a notable enhance from the 32,260 registrations recorded in 2022.
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