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Govt. of India readying FAME III scheme

Govt. of India readying FAME III scheme

The FAME III scheme is likely to cover alternative fuels like hydrogen.

According to a media report, the government of India is working on the next phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME III) scheme. Besides EVs, the new scheme is likely to cover alternative fuels such as CNG and ethanol.

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The FAME scheme was introduced to promote the manufacturing and sales of electric vehicles in the country. In the first phase, the focus was on electric 2-wheelers, wherein the government offered a 40% subsidy on the selling price. This incentive has been a great success, with the number of electric 2-wheelers on the road increasing rapidly. In the next phase, the government plans to focus on electric cars, with a similar subsidy. This will help to further promote the use of electric vehicles, and reduce pollution levels in the country.

As the subsidy on electric 2-wheelers was slashed to 15% under FAME II, the latest reports suggest that the third phase could see the inclusion of alternative fuels, such as hydrogen. The government is also said to be considering enhanced support for electric 3-wheelers while reducing the subsidy on electric 2-wheelers.

The government is still in the process of collecting additional inputs from industry stakeholders to formulate the FAME III scheme.

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