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Phase 2 of FAME pays attention to supply and demand side of EVs

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The EV industry is now less than 1% of the total vehicle sales in India. So, to increase India’s budding Electric Vehicle industry, the Indian government has approved that Phase 2 of FAME from India scheme (Faster Adoption and Manufacturing of Hybrid and Electric vehicles) will focus mainly on supply and demand side of things. It consists of research and developments of different technologies. This was reported by PTI. India is developing as a big Electric Vehicle hub with developing research and developments in this field of electric and hybrid vehicles. India also revealed ‘National Electric Mobility Mission Plan (NEMMP) 2020’ in 2013. It addresses the problems of National Energy Security, vehicular population and, an increase of domestic manufacturing capabilities of electric motors. The sales for Electric Vehicle (EV) will be reported to double in 2020.

 

Phase 2 of FAME pays attention to supply and demand side of EVs

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Minister of state of Heavy Industries and Public Enterprises, Babul Supriyo said in a written declaration to Lok Sabha that R&D should also be taken care of, for the development of latest technologies in EV which includes electric motors, lithium-ion batteries for their use in battery management system and automobile applications. According to the minister, it is very important for the Indian automotive industry to change from conventional engines of internal combustion to electric engines, fuel cell and, hybrid technologies. 

The Union Cabinet of India is looking forward to passing the proposal of financial help of Rs 9,381 crore for phase 2 of FAME India in the upcoming months. It will go on for the next five years.

Until Phase 2 is started, the first Phase of FAME is extended or until September 2018. Various incentives and offers are offered by the government on electric motors and hybrid vehicles of up to Rs 29,000 for bikes and for cars, it is up to Rs 1.38 lakhs.


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