Government Allocates INR 5294 Crore Subsidy for EVs under FAME India Scheme
As of December 11, 2023, a total of 11,79,669 electric vehicles have been sold, which includes 10,42,110 two-wheelers, 1,22,690 three-wheelers and 14,869 four-wheelers.
December 19, 2023. By Abha Rustagi
As of December 11, 2023, a total of 11,79,669 electric vehicles have been sold, which includes 10,42,110 two-wheelers, 1,22,690 three-wheelers, and 14,869 four-wheelers.
In addition to this, the MHI has sanctioned 6862 electric buses for intra-city operations, with 3487 e-buses already supplied to State Transport Undertakings (STUs) as of November 29, 2023.
Furthermore, the MHI has allocated INR 800 crore as a capital subsidy to three Oil Marketing Companies (OMCs) for establishing 7,432 electric vehicle public charging stations, emphasizing the importance of a robust charging infrastructure.
The Minister of State for Heavy Industries, Krishan Pal Gurjar, shared this information in a written reply in Rajya Sabha, highlighting the government's commitment to advancing the electric mobility ecosystem.
To stimulate domestic manufacturing, the Ministry has launched two Production Linked Incentive (PLI) schemes for Advanced Automotive Technology products, including EVs and advanced chemistry cells (ACC). The PLI scheme for the Automobile and Auto Component Industry, with a budgetary outlay of INR 25,938 crore, offers financial incentives of up to 18 percent of eligible sales for electric vehicles and their components.
Moreover, the government has approved the 'National Programme on ACC Battery Storage' under the PLI scheme, with a budgetary allocation of INR 18,100 crore. This initiative aims to encourage the establishment of Giga-scale ACC manufacturing facilities for 50 GWh, promoting the widespread adoption of electric vehicles.
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