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FAME II: Electric Vehicles to Get Cheaper by as Much as ₹2.5 lakhs

March 05, 2019

FAME II: Electric Vehicles to Get Cheaper by as Much as ₹2.5 lakhs
The second phase of the Faster Adoption and Manufacturing of Electric Vehicles II (FAME II) was announced by the government recently. Under this, the Union Cabinet approved ₹10,000 per kWh worth of incentive for the purchase of e-vehicles. This translates to savings of ₹20,000-40,000 for two-wheelers with a battery capacity of 2-4 kWh, ₹50,000-100,000 for three-wheelers with a battery capacity of 5-10 kWh, and ₹1.5-2.5 lakh for four-wheelers with battery capacity of 15-25 kWh. The scheme will be implemented on April 1, 2019, and remain active for up to 3 years.

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