Hero Motors Company (HMC) reaches out to Niti Aayog and the Ministry of Heavy Industries for including electric bicycles in the Scheme for Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II) scheme.
As of now, electric three-wheelers, electric four-wheeler passenger vehicles, electric buses, and electric two-wheelers are only eligible to get subsidies under the FAME II scheme.
Under it, vehicles are provided with demand incentives that help to bring down their purchase price. FAME II had increased the benefit offered from Rs 10,000 per kWh to Rs 15,000 per kWh, a hike of 50 %.
The FAME II scheme, introduced to drive greater adoption of EVs in India, was launched with a budget outlay of Rs 10,000 crore in April 2019, to support 7,000 e-buses, and 5,00,000 e-three-wheelers, 55,000 e-passenger vehicles and a million e-two-wheelers.
The government of Delhi has launched incentives for electric bicycles. HMC also has a subsidiary, Hero Lectro which manufactures electric bicycles in the country. Recently, HMC and Yamaha signed an agreement for an electric cycle unit.
