More subsidy in e-vehicle: Government will give more subsidy on electric two-vehicle under FAME II, increasing petrol prices will also benefit

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New Delhi2 hours ago

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To increase the sale of e-vehicles in the country, the government is coming up with many schemes like discounts and subsidies. In such a situation, now the Managing Director of Hero Electric Two-Wheeler Company Naveen Munjal has said that the increase in subsidy under Fame II will help in increasing the demand for electric vehicles in the country.

In an interview, he said that the electric vehicle industry is the most important step in the last decade. The increase in subsidy under FAME II will usher in a new era of electric mobility in the country. An increase in the subsidy limit will be a dice-turner. With the price of petrol reaching Rs 100 per liter, people will show interest in buying electric scooters.

Government decided to increase subsidy

  • The government has made partial amendments in the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India II) scheme. In view of the weak response to the subsidy scheme launched for electric two-wheelers, the government has decided to increase the subsidy further with the aim of promoting the sale of electric two-wheelers.
  • As per the changes made in FAME India Phase II, the demand incentive on electric two-wheelers has been increased from Rs 10,000 per KWh to Rs 15000 per KWh. Under the amendment, the Ministry of Heavy Industries has capped the incentive limit for electric two-wheelers to 40% of the cost of the vehicle, from 20% earlier.
  • We are expanding our reach, installing charging points and re-training mechanics to create infrastructure for electric vehicles, Munjal said. In the midst of all this, a favorable policy will boost the growth of electric vehicles and transform the sector.

11 models of electric two-wheelers launched in 2021
In the first 3 months of this year, 11 models have been launched in the electric two-wheeler segment. These include models of many popular companies and some startups. Goa-based startup Kabira even made India’s fastest e-bike. Many models are still in preparation for launch. Overall, this year will be better for the e-vehicle industry.

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