Page 2 - Fame-ii

Finance Ministry approves additional Rs 1,500 cr for FAME-II scheme

Govt had till Dec 26 utilised Rs 8,948 crore of the Rs 10,000 cr allocated under the scheme

Deadline nearing, 70% of FAME target met, 1.22 mn vehicles supported so far

The target is for more than 1.74 million electric vehicles

FAME III: India to replace 800k diesel buses with electric over 7 years

To drive EV adoption in India, the government is devising a plan to replace nearly one-third of diesel buses on roads

EV industry set to end its best sales year in spite of subsidy cuts

This year marked a reduction in subsidies for electric two-wheelers (e2W), a category that constitutes around 55% of the overall EV sales

Extend FAME-II, set deadline for polluting vehicles: Parliament committee

To maximise the environmental decarbonisation benefits of EVs, the establishment of solar-powered EV charging stations is essential, the Committee said

Amid overall electric vehicle boom: E-bus market share falls to under 3%

Industry experts attribute the decline to delays in bus supply from original equipment manufacturers (OEMs) and the lack of state government's efforts in enforcing timely procurement

Ficci submits proposal for continuation of demand incentives for EVs

Industry body FICCI on Monday said it has submitted its proposal to the Ministry of Heavy Industries for the continuation of the FAME scheme for the next five years, with a review at the end of three years. The time period for the current FAME II scheme is till March 2024. Sudden withdrawal or discontinuation of upfront price incentives will lead to up to 25 per cent price increase of EVs and this may derail EV adoption momentum substantially, also impacting further investments in the EV sector, and disrupting gains made so far, noted FICCI. Purchase incentives on EV vehicles are being continued in markets like Canada, the US, Korea, etc. to achieve their electrification ambitions and India cannot be left behind and miss the EV bus, it argued. "EV penetration in India is only 5 per cent currently. It is imperative to continue FAME scheme to achieve critical mass towards reaching overall 30 per cent EV penetration targets by 2030, stated by Government of India and to also help meet

Govt to pump in additional Rs 1,500 crore for FAME-II subsidy scheme

The MHI was allocated Rs 5,127 crore for the current financial year - the highest since the Rs 10,000-crore scheme was launched in 2019

MHI orders probe to investigate role of govt officials in FAME scam

The action comes several months after the ministry instructed 13 companies to reimburse improperly claimed subsidies

Over Rs 300 crore FAME-II subsidy stuck on Aadhaar card, RC mismatch

Auto companies, especially makers of electric two-wheelers, say that in such cases the government has been withholding the subsidy for months, without offering any resolution on the issue

India's sparse EV-charging network stumbles on strategy, state support

India has less than 3 per cent of the EU's PCS network, and received only 15 per cent of FAME-II EV subsidy scheme's Rs 10,000-crore budget

Finmin questions rationale for extending FAME scheme beyond current fiscal

The Heavy Industries Ministry proposed an extension to subsidies for EVs under FAME III with a higher allocation for five more years to support the growth of electric and alternate fuel vehicles

Electric vehicle market set to be on full charge by 2025: ICRA report

The report highlights that the electric twowheeler (e2W) segment has emerged as a frontrunner, accounting for 85-90 per cent of total EV sales in FY23

Greaves Electric Mobility refunds Rs 124 crore FAME-II subsidy to MHI

Greaves is among the seven electric two-wheelers (e2W) makers accused by the government of selling vehicles without complying with the localisation mandate

FAME-II subsidy violation: Hero Electric opposes Rs 130 cr refund demand

In a meeting with officials of the DHI, the company has said the period for which the government is demanding a refund of subsidies of Rs 130 crore does not apply to it

Policy predictability for EV adoption needed to make investments: Ather

Policy predictability is needed to make investment plans for accelerating electric mobility in the two-wheeler segment, according to electric two-wheeler maker Ather Energy Chief Business Officer Ravneet S Phokela. The company, in which Hero MotoCorp is a significant investor, expects 100 per cent electrification of the domestic two-wheeler market by 2030 even as it prepares to start exports to an India-like market in the near future. With the FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme coming to an end in March next year, Phokela said Ather is happy with the government support and the current levels of subsidy but hoped that it would be extended for another three to five years for acceleration of EV adoption. "Two requirements, extend the period of time and importantly, let there be policy predictability," he told PTI when asked about the company's wishlist for FAME III. He further said,"Unpredictability is not good for business because my busin

Govt may bring incentive scheme to push R&D in auto component sector

Auto industry is investing in R&D, more needs to be done, especially as the pace of electrification accelerates

Govt exploring legal options against 2 cos for non-compliance with FAME II

The government is exploring legal options against electric two-wheeler companies for not complying with the FAME II scheme norms, according to a senior government official. The Centre has sought Rs 469 crore from seven electric two-wheeler makers for claiming incentives while not complying with the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme norms. The government is seeking a refund of incentives from Hero Electric, Okinawa Autotech, Ampere EV, Revolt Motors, Benling India, Amo Mobility, and Lohia Auto. As per the official, notices have been sent to the companies, and so far, only Revolt Motors has offered to refund the amount. "We have sent them notices. So far, only Revolt has offered to pay...others have not responded," the official said. He noted that the deadline is almost over, and next week, the government will be making some decisions. "We are examining legal options," he said when asked about action being considered by the government. An ...

Revolt Intellicorp returns Rs 50 cr claimed under FAME for flouting rules

Revolt Intellicorp, one of the seven companies accused of violating phased manufacturing programme guidelines under the Rs 10,000-crore FAME-II scheme, has repaid the subsidy claimed, along with interest, amounting to Rs 50.02 crore to the government. Joint Secretary in the Ministry of Heavy Industries Hanif Qureshi confirmed the repayment and said the ministry will give "a few weeks more" to six other companies found violating the Phased Manufacturing Programme (PMP) norms. He said while notices were issued to the firms after giving them a hearing, more time will be given as some of them maintain that they have not violated norms and will be required to submit documents validating their claims. Apart from Revolt Intellicorp, the six other companies found violating the norms were Hero Electric, Okinawa Autotech, Ampere Vehicles (Greaves Cotton), Benling India, Amo Mobility, and Lohia Auto. "We'll give them a few weeks more. Still giving them 2-3 chances in case they want to furnish

SMEV offers last ditch solution to government to resolve fame 2 issue

First suggestion, if accepted, would ensure that problems arising from the pandemic or other factors would no longer be considered violative, necessitating the repayment of subsidies to the government