Govt Plans Six-Fold Increase in Funds Allocation Under FAME II

- Advertisement -

FAME II is likely to draw an investment of about Rs 5,500 crore over the next five years which will be used to provide subsidies for all types of electric vehicles.

The government of India is planning a six-fold increase in the allocation of funds for the second phase of FAME (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles) India scheme. This will include an investment of about Rs 5,500 crore over the next five years to provide subsidies for all types of electric vehicles (EVs) including two-, three- and four-wheelers to promote environment-friendly vehicles and check pollution, reported Auto Car.

- Advertisement -

Under FAME I, the government had sanctioned a corpus of Rs 795 crore, which was later augmented to Rs 895 crore. The aim was to create demand incentives, build infrastructure – within which EV homologation facilities are set up at ARAI and other centres – support many R&D projects and launch new pilot projects. The pilot projects include the launch of 450 EVs across nine cities under the public transportation system.

Speaking at a recent industry meet, Dr Asha Ram Sihag, Secretary, Ministry of Heavy Industries, said that the focus of the FAME policy under its second stage (for a five-year period from April 2019) is to support public transportation, shared mobility and electric mobility including for small vehicles such as two-wheelers. 

Dr Sihag said that the government has invested in setting up homologation facilities for EVs at ARAI, Pune; GARC, Chennai and ICAT, Manesar as well as a new battery testing facility at NATRAX in Indore. All of these facilities will become functional in CY2019.

He further commented that the automotive industry in India may not face a shortage of advanced testing facilities once all the above-mentioned EV homologation units become functional in CY2019.

300 new EV charging stations sanctioned

Dr Sihag added that the government has also been running pilot projects in the form of 225 EV charging stations in select cities across India. He revealed that the government has just sanctioned another 300 charging stations, which are expected to come up across cities and select highways. Citing examples of the chosen highways, Dr Sihag said Delhi-Agra-Jaipur and Mumbai-Pune are the two highways which will get EV charging stations with a capital investment of Rs 35 crore. 

The initiative, a part of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) – Phase 1, will be completed by the end of calendar 2019. Dr Sihag was speaking in the inaugural session of the 16th Symposium on International Automotive Technology (SIAT 2019) hosted by Automotive Research Association of India (ARAI) at Oxford Gold Resort at Bavdhan, Pune.

- Advertisement -

Most Popular Articles

STMicroelectronics’ Solar Deal Boosts Green Operations In Malaysia

0
For its Malaysia facility, STMicroelectronics powers up sustainability with 21-year solar deal with ENGIE Renewable, driving its goal to go carbon-neutral and 100% green...
Mercedes Benz

Mercedes Benz Initiates Q4 2024 EQ Sales Challenge To Boost Sales In US EV...

0
The incentive comprises a $2,000 bonus per EV sale, with an additional $1,000 available for dealers meeting specific monthly sales targets. Mercedes-Benz has initiated the...
Stellantis-Infineon Partnership

Stellantis Partners Infineon To Develop Power Architecture For Next-Gen EVs

0
Infineon has an overall market share of 29 percent in the international automotive microcontroller market. The global automotive manufacturing company Stallintis has partnered with Infineon...

KeenSemi Partners With VLSI Expert To Upskill Engineers

0
Boosting India's tech ecosystem, KeenSemi partners with VLSI Expert to address the semiconductor talent shortage, offering intensive training for engineers. Semiconductor designer KeenSemi has signed...
EV Scheme-India

Union Cabinet To Revamp New EV Scheme To Bolster Investments From Global EV Firms

0
In the second workshop, feedback from numerous companies who are keen to import high-end vehicles at reduced taxes will be collated. In an effort to...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups