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"We have received approval from the Department of Heavy Industries to purchase the electric vehicles under the National Electricity Mobility Mission of the Central government's Fame India scheme," the statement said.
Of the electric vehicles, 40 will be buses, 100 cars and 500 three-wheelers.
"The Department is giving subsidy up to 60 per cent under the scheme with funds to set up infrastructure to charge the vehicles across Bengaluru," noted the statement.
The state-run transport corporation will operate the eco-friendly vehicles for the commuting public and protect the city's environment and save fossil fuel.
The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) was launched in 2015 to promote eco-friendly vehicles across the country by providing fiscal and monetary incentives for adoption and market creation of both hybrid and electric technologies vehicles.
The scheme incentivises all vehicle segments, including two-wheeler, three- wheeler auto, four-wheeler vehicles, light commercial vehicles and buses.
The scheme also covers hybrid and electric technologies like a strong hybrid, plug-in hybrid and battery electric vehicles.
Its mandate is to support hybrid or electric vehicles market development and its manufacturing eco-system to achieve self-sustenance in a specified period.