16.15 lakh EVs incentivised in India's FAME Phase-II

As of March 11, a total of 16,15,080 electric vehicles (EVs) have been incentivized under the second phase of India's FAME scheme, according to the government. The majority of these are electric two-wheelers, with 14,28,009 units receiving financial support. Additionally, 1,64,523 electric three-wheelers and 22,548 electric four-wheelers also benefited from the incentives. The FAME India scheme Phase-II started on April 1, 2019, and will run for five years. It has a budget of Rs 11,500 crore aimed at promoting electric vehicles, which includes electric two-wheelers, three-wheelers, and four-wheelers. The program also provides grants for electric buses and public charging stations. So far, 6,862 electric buses have been approved for city use under this scheme, with 5,135 of them already delivered as of February 28. In March 2023, the Ministry of Heavy Industries allocated Rs 800 crore to set up 7,432 public charging stations at various retail outlets across the country. Moreover, the government has introduced other initiatives to support the electric vehicle industry. This includes the Production Linked Incentive (PLI) scheme for the automotive sector, aimed at enhancing production capabilities for advanced automotive technologies. The budget for this scheme is Rs 25,938 crore. Another initiative focuses on manufacturing automotive cells, with Rs 18,100 crore allocated to support the domestic ecosystem for batteries. The PM Electric Drive Revolution scheme has a budget of Rs 10,900 crore, promoting various electric vehicles and infrastructure. Lastly, the PM e-Bus Sewa scheme, with an outlay of Rs 3,435.33 crore, aims to deploy over 38,000 electric buses.