CCEA clears ₹10,000-cr for FAME's Phase-II Scheme

Under its Faster Adoption & Manufacturing of Electric (and Hybrid) vehicles (FAME) scheme, the Cabinet Committee of Economic Affairs (CCEA) has approved ₹10,000 crore for the next phase of the scheme. Starting next month, it will continue for three years till 31st March, 2022. The Finance Minister informed that FAME II will focus on electrification of public transportation including "shared transportation", and give incentives for an operational expenditure model for e-buses by state transport corporations. The incentives will be applicable only for three and four-wheelers plying as commercial vehicles and public transport, and will also be applicable for private two-wheeler vehicles that use advanced battery packs made of lithium ion. Through the scheme, it has been planned to support 10 lakh electric two-wheelers, 5 lakh electric three-wheelers, 55,000 electric four-wheelers and 7,000 buses, the government said in an official statement.