Government approves Rs. 10,000 crores for EV under FAME II

FAME

Government recently approved Rs. 10,000 crores for faster adoption of Electric Vehicle under FAME ( Faster Adoption and Manufacturing of Electric and Hybrid) Vehicles) scheme. The approval came from the cabinet committee of economic affairs on Thursday.
The scheme will support 10 lakh electric two-wheelers, 5 lakh electric three-wheelers, 55,000 four-wheelers and 7,000 buses.

Emphasis is on electrification of the public transportation that includes shared transport. The scheme proposes establishment of charging infrastructure, whereby about 2700 charging stations will be established in metros, other million plus cities, smart cities and cities of Hilly states. The goal is to set up at least one charging station in a grid of 3 km x 3 km.

Establishment of Charging stations are also proposed on major highways connecting major city clusters. On such highways, charging stations will be established on both sides of the road at an interval of about 25 km each.

There have been positive response from automobile companies all over the country. Pawan Goenka, Managing Director, Mahindra & Mahindra, stated,

“We applaud the approval of FAME II scheme by the Union Cabinet. The new outlay of Rs 10,000 crore over a period of three years provides a stable policy to promote green mobility in India. It addresses the key issues including National Energy Security, Mitigation of the adverse impact of vehicles on the environment and Growth of domestic technology and manufacturing capabilities. The revised FAME II removes all the uncertainty and will put Electric Vehicles in the fast lane. Mahindra supports the Central Government’s focus to boost EVs in public transportation and now requests local authorities to help facilitate plying of electric vehicles on Indian roads. “Government support with the FAME II scheme is holistic and includes focus on charging Infrastructure with a clear emphasis on “Make in India”. We feel that it is now the responsibility of suppliers, OEMs and mobility service providers to invest in EVs and make India’s EV dream become a reality.”

SMEV (Society of Manufacturers of Electric Vehicles), also released a statement, stating,

“We are thankful to the government for accepting our demands for a long-term scheme with substantial fund support. The support would encourage associated industry players to invest in the sector, which will further help in creating an ecosystem, locally. We look forward to seeing the final notification from the Ministry, which will give us clarity on the government’s roadmap of e-mobility.”

India has set a target of achieving 30 percent electric mobility by 2030 in order to reduce dependence on fossil fuels to curb pollution and reduce its import bill. Nitin Gadkari, union minister for road transport, highways and shipping, had said that India aims to have at least 15 percent electric vehicles on its roads in five years.

A group of tech enthusiasts who are tracking latest developments in CleanTech with special focus on Energy Storage and Electric Mobility

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A group of tech enthusiasts who are tracking latest developments in CleanTech with special focus on Energy Storage and Electric Mobility

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