FAME-II Achieves Only 10% Of The Target With Just 4 Months Left In The Deadline

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Photo by Rathaphon Nanthapreecha on Pexels.com

FAME-II has only achieved 10% of the set target with only 4 months left with Rs 8,596 crore. FAME-II is the Indian authorities’ flagship electrical autos (EV) promotion scheme.

As per the information shared by the government, two, three, and four electric vehicles got Rs 509 crore subsidies whereas buses got Rs 310 crore of subsidies till October 9th.

The second part of the scheme was supposed to be achieved within 3 years that is 31st March 2022 but it has now been delayed by 24 months till 31st March 2024.

Despite the scheme about to miss the targets, there has been a tremendous increase in the two-wheeler subsidies which has doubled.

The reason for delayed achievement is the rise in gasoline costs where customers are now seeking different options.

According to Sohinder Gill, director-general of EV makers’ foyer Society of Producers of Electrical Autos (SMEV), around 300,000 electric two-wheelers will be purchased in the country in the FY22. This also includes non subsidized low-speed scooters.

There are fewer EVs in India and hence suppliers are not willing to manufacture parts locally and the cost of EVs is also rising. The demand is also growing with the need. of the hour.

Gill said, “The target was all the time proper. However, the timing was misplaced. The expansion in EV gross sales that we’re seeing now might have come to a lot earlier.”

Gaurav Uppal, the chief government officer of One Electric, said, “We additionally perceive the view level of the federal government. Up to now few years, there was little or no work performed in the localization of parts. Native design and improvement of (hardware) are transferring at a really gradual tempo and software program improvement even slower for controller, battery administration system et cetera.”

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