Rs 5,500 crore subsidy support for all types of electric vehicles will be given under the second phase of ‘Faster Adoption and Manufacturing of Hybrid and Electric vehicles (FAME)’ India scheme.
The panel decided to offer subsidy to all categories of electric vehicles, including two-wheelers, three-wheelers and four-wheelers, to promote green vehicles and check pollution.
Under the scheme, depending on technology, battery-operated scooters and motorcycles are eligible for incentives ranging between Rs 1,800 to Rs 29,000, while in three-wheelers it is between Rs 3,300 and Rs 61,000.
Under the phase-I of FAME scheme the incentive was offered on purchase of strong hybrid and electric cars, two-wheelers and three-wheelers but in phase-II incentives will be provided on purchase of two-wheelers as well as three-wheelers and four-wheelers including taxis and electric buses used in public transport to check pollution.
However, strong hybrid vehicles will not be entitled to sops anymore.
With an aim to promote eco-friendly vehicles, the government had launched the FAME India scheme in 2015.
Reference- ET, Millennium Post, Money Control, PTI