Page 6 - Fame-ii

Between FAME and fortune, EV players worried about their investments

The prospect of the government withdrawing its signature scheme after the March 2024 deadline is likely to hurt dozens of start-ups that rode in on the back of subsidies

Centre to recover subsidies wrongly claimed under Fame scheme: Report

Ministry of Heavy Industries has already initiated the process to find out the quantum of subsidy claimed without meeting the localisation commitments by EV makers in India

SMEV seeks extension of subsidies for EVs under FAME-II in Budget

Society of Manufacturers of Electric Vehicles on Tuesday sought extension of subsidies for EVs under the FAME II scheme and also include light to heavy commercial vehicles in it to promote electric mobility. In its pre-Budget recommendations, the industry body also called for a uniform 5 per cent GST on spare parts for electric vehicles. "The validity of FAME II is set to expire on March 31, 2024. We believe FAME's validity needs to be extended since we have yet to meet the penetration the subsidy was supposed to catalyse," Society of Manufacturers of Electric Vehicles (SMEV) said in a statement. The new FAME II scheme should be linked to e-mobility conversion rather than being time-based, it added. The EV industry body said market trends suggest that e-mobility, particularly electric two-wheelers (E2W) has the potential to continue growing once it reaches 20 per cent of the total two-wheeler market. "The subsidy can be tapered thereafter," it said, adding the FAME II scheme shoul

FAME II: E2W makers want govt to delay localisation norms by 12-18 months

The supply chain for electric two-wheelers (E2Ws) is coming into shape but still not ready, argues the industry association SMEV

India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

Start-up EV makers allege partial treatment, halt of FAME subsidies

Subsidies of Rs 200-300 crore remain unpaid, said executives of various start-ups

FAME-II: Subsidies to Hero Electric, Okinawa halted for non-compliance

Centre has also asked Greaves Cotton's Ampere, Rattanindia's Revolt, Okaya and Jitendra EV to face an audit to be conducted by the Automotive Research Association of India (ARAI)

FAME II scheme helps put EV transportation on a par with ICE vehicles

The incentive scheme helps put green transportation on a par with ICE vehicles

Centre freezes subsidy of EV makers for violating PMP norms under FAME-II

Under the FAME-II scheme, the government releases incentives for various categories of EVs to OEMs. It has an outlay of Rs 10,000 crore

Indian EV market to hit annual sales of 17 mn units by 2030: Report

India's electric vehicle market is expected to expand at a compounded annual growth rate of 49 per cent between 2021-2030, with the segment's volumes set to cross annual sales of 17 million by 2030, a new report said on Tuesday. This projected growth is expected to be driven by factors such as rising fuel prices, entry of new players, advancement in EV technology, continued subsidy support from both the central and state governments as well as anticipated implementation of emission standards, India Energy Storage Alliance (IESA) said in its report. The EV industry in India experienced one of the quickest recoveries from the pandemic-induced slowdown in 2020, the report observed, noting that the electric two-wheeler segment, accounted for 50 per cent of the total over 4.67 lakh EV sales in the domestic market followed by the low-speed e-three-wheelers in 2021. However, other segments also showed notable increase over the course of the year, it stated. The report said that with a ...

'Renewable energy capacity addition rises 80% to 3.4 GW during Dec quarter'

Solar energy comprised 92 per cent of the total RE capacity added during the quarter, driven partly by a 142 per cent rise in installations of rooftop solar to 700 megawatts (MW)

CESL to launch the country's first grid scale battery storage program

Set to launch grand challenge for electric buses in cities

A good time to buy an electric two-wheeler, hold on if it's a car you want

A range of options and easy buying terms tilt the scales in favour to e-scooters; electric cars, on the other hand, are too expensive currently

Recent changes in FAME II scheme to boost demand for e-vehicles: FICCI

Industry chamber FICCI on Monday said the recent changes in the FAME II scheme, including enhanced subsidies for electric two-wheelers, are expected to accelerate demand for electric vehicles

Okinawa cuts price of electric scooter range by up to Rs 17,892

Electric two-wheeler firm Okinawa Autotech on Wednesday said it has reduced prices of its entire product portfolio, ranging between Rs 7,209 and Rs 17,892, in the wake of changes in the FAME II policy

Future is green: 2020 may see re-birth of electric vehicles, say experts

Recently, Union minister Prakash Javadekar told Parliament about 285,000 buyers of electric/hybrid vehicles had been supported by a subsidy of Rs 360 crore under FAME.

Tamil Nadu EV policy seeks to attract Rs 50,000 cr, create 150,000 jobs

Venture fund for start-ups in this space, 100% reimbursement of SGST on EV sales, zero electricity tax are some of the measures set out in the policy

Govt approves 5,595 e-buses in 64 cities under FAME India's second phase

Delhi, Mumbai, Bengaluru, Hyderabad and Ahmedabad got the highest number of buses at 300 each

FAME-II may disappoint electric two-wheeler manufacturers with lower sales

The new scheme may link the incentives to the battery power - higher the power, higher the incentive