New Delhi: Subsidies for electric two-wheelers registered on or after June 1, 2023, under the FAME-II (Faster Adoption of Manufacturing of Electric Vehicles in India) scheme, have been lowered.
The Ministry of Heavy Industries announced the shift. The incentive for the demand of electric two-wheelers will be Rs 10,000 per kWh. Electric two-wheeler subsidies would be capped at 15% of the ex-factory price, down from the current 40%.
On April 1, 2019, the government of India launched the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme for a three-year duration; this was then extended by another two years, to March 31, 2024.—Inputs from Agencies