Page 4 - Fame-ii

FAME II subsidy impact: TVS revises IQube prices by Rs 17,000-20,000

Ola Electric, Ather Energy have reportedly slashed prices too after the government revised support programme

Ola announces price hikes for its electric scooters, to cost Rs 15k more

The reduction in subsidies is expected to trigger a wave of price hikes in electric scooter prices across the industry

E2W firms look to rejig prices and features to cope with subsidy cut

Of the 300-odd e2W makers in India, 28 were registered on the FAME portal.

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Nearly half of FAME electric 2-wheeler sales based on false claims: Report

An investigation done by ARAI found several firms depending on imports for key parts such as electric motors, controllers, and onboard chargers

Conventional 2W makers take prime spot in EV sales, courtesy Bajaj, TVS

Ola has said it is ramping up its two-wheeler capacity from 500,000 to 2,000,000 with incremental investment

Greaves Cotton sinks 10% as govt seeks to remove EV arm from FAME-2 scheme

The govt said that Greaves Electric Mobility failed to adhere to Phased Manufacturing Programme guidelines, hence it will need to return the subsidy of about Rs 124 cr claimed under the FAME-II scheme

Entire E2W supply chain under stress as govt stance on subsidy hardens

Uncertainty over direction of govt policies is slowing investments and purchases; vehicle and ancillary makers need 5-year policy perspective to take investment calls, say industry experts

Second round of probe finds four more firms in FAME-II scheme violations

However, from June 1, 2023, the Centre has slashed the subsidy for electric two-wheelers to Rs 10,000 per Kwh

Govt reduces FAME-II subsidy on electric two-wheelers from June 1

The government has reduced the subsidy provided under FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme applicable on electric two-wheelers registered on or after June 1, 2023. The Heavy Industries Ministry notified the changes. For electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present. The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for a period of two years up to March 31, 2024. The total outlay for FAME Scheme Phase II is Rs 10,000 crore to provide incentives to buyers (end users or consumers) of electric vehicles to enable wider adoption, which may be encouraged as a purchase price. The scheme is exclusively for public and commercial transport in the segments of electric ...

Ola Electric secures $300-million funding at $6-billion valuation

In the previous deal, Ola Electric had raised $200 million from investors like Tekne Private Ventures, Alpine Opportunities Fund, and Edelweiss

As govt cuts down subsidy, EV two-wheelers may get costlier from June 1

The government earmarked Rs 10,000 crore for a period of three years under the FAME-II scheme. The scheme ended in June 2021 and was extended for a period of two years

EV buyers to get smaller batteries, less features as Centre cuts subsidy

The Centre recently announced a reduction in FAME II subsidy on electric two-wheelers to Rs 10,000 per kWh from Rs 15,000 per kWh and the maximum subsidy cap of 40 per cent to 15 per cent

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Electric scooter companies divided on impact of FAME II subsidy cutback

However, premium electric scooter players feel that the market will consolidate with the premium end dominating the play

Govt plans to increase outlay for e-2-wheelers under FAME II scheme

The Heavy Industries Ministry is planning to increase the outlay for e-two-wheelers from the current level of Rs 2,000 crore under its flagship FAME-II scheme and reduce the subsidy per vehicle. There is no proposal at present for an extension of FAME-II beyond March 2024 or introduction of FAME-III, the official said on the condition of anonymity. A stakeholders' meeting with 24 electric two-wheeler OEMs registered under FAME-II was called on Tuesday and the consultation reached a consensus that the demand incentive may be kept at Rs 10,000 per kWh of battery capacity, along with a cap of 15 per cent of the ex-factory price from 40 per cent at present, the official said. A proposal in this regard will be placed before the Programme Implementation and Steering Committee (PISC), which is an empowered panel to effect changes in the Rs 10,000 crore FAME-II Scheme shortly, the official added. Speaking on the issue, Union Minister of Heavy Industries Mahendra Nath Pandey said that as th

'Govt to issue notices to debar more cos found violating FAME-II norms'

The government will issue notices to more companies that have been found violating localisation norms under the Rs 10,000-crore FAME-II scheme seeking to debar them and recover incentives claimed by them since FY 2019-20, an official said on Wednesday. Also, the Heavy Industries Ministry will resume disbursal of subsidies under the scheme shortly as reports of most of the firms under the ambit of the audits being conducted by India's premier vehicle testing and validation agencies ICAT and ARAI have been received, the official said. "We have received reports that some other companies have also violated the FAME-II guidelines. We will be issuing them notices similar to the notices issued to two firms found to be violating the localisation norms earlier," said the official, requesting anonymity. He shared that the subsidies have not gone out but reports of most of the companies have come. "IFCI is processing the subsidy claims and shortly may be in a couple of days we will be resum

FAME-II subsidy on EVs cut to Rs 10,000/KWh, max 15% of ex-factory price

Move comes as outlay for E2Ws was about to get exhausted months before scheme's Mar 2024 deadline. Govt has already disbursed subsidies to 80% of targeted one million E2Ws under the scheme

Govt to start random checks on EVs after recent lapses under FAME II scheme

The checks will be conducted by the Automotive Research Association of India

FAME subsidy row: Centre to return Rs 800 cr to ex-factory price defaulters

The remaining Rs 287 crore will be released once the companies submit the details of the requirements, sources said