Fame-ii

FAME II subsidy for electric vehicles at only 52% of its target

Panel recommends extension of scheme

Compliant with localisation norms under FAME II: Okinawa MD Sharma

Co submitted requisite documents; awaiting meeting with MHI; at an industry level subsidy worth Rs 1,500 cr held up

Hero Electric eyeing 1.7-2.5x volume growth in 2023, says MD Naveen Munjal

Asserts that the company is robust not to depend on govt subsidies for survival and growth

Electric two-wheeler companies pencil in slow sales growth for FY24

For FY23, SMEV's projection was close to that of the government as it expected sales to be over 1 million

E-scooter companies likely to offer cheap chargers to meet FAME norms

The cost of the slow charger will be included within the mandatory price cap for availing the FAME 2 subsidy

Centre likely to discontinue second phase of Fame-II scheme after FY24

Instead of the Fame-II scheme, the benefits may be given through the production-linked incentive (PLI) scheme

Electric ambitions

Meaningful transition to EVs will be challenging

All 7,000 e-buses under FAME-II to run on roads in next one year: Official

Joint secretary in the heavy industries ministry Hanif Qureshi said that out of the 7,000 electric buses, over 3,000 e-buses are already operating in the country

Between FAME and fortune, EV players worried about their investments

The prospect of the government withdrawing its signature scheme after the March 2024 deadline is likely to hurt dozens of start-ups that rode in on the back of subsidies

Centre to recover subsidies wrongly claimed under Fame scheme: Report

Ministry of Heavy Industries has already initiated the process to find out the quantum of subsidy claimed without meeting the localisation commitments by EV makers in India

SMEV seeks extension of subsidies for EVs under FAME-II in Budget

Society of Manufacturers of Electric Vehicles on Tuesday sought extension of subsidies for EVs under the FAME II scheme and also include light to heavy commercial vehicles in it to promote electric mobility. In its pre-Budget recommendations, the industry body also called for a uniform 5 per cent GST on spare parts for electric vehicles. "The validity of FAME II is set to expire on March 31, 2024. We believe FAME's validity needs to be extended since we have yet to meet the penetration the subsidy was supposed to catalyse," Society of Manufacturers of Electric Vehicles (SMEV) said in a statement. The new FAME II scheme should be linked to e-mobility conversion rather than being time-based, it added. The EV industry body said market trends suggest that e-mobility, particularly electric two-wheelers (E2W) has the potential to continue growing once it reaches 20 per cent of the total two-wheeler market. "The subsidy can be tapered thereafter," it said, adding the FAME II scheme shoul

FAME II: E2W makers want govt to delay localisation norms by 12-18 months

The supply chain for electric two-wheelers (E2Ws) is coming into shape but still not ready, argues the industry association SMEV

India's electric two-wheeler market may miss 1-million unit target

Supply-side glitches, impending govt regulations, fires, and delay in FAME II subsidy handout have forced start-ups to mothball ramp-up plans

Start-up EV makers allege partial treatment, halt of FAME subsidies

Subsidies of Rs 200-300 crore remain unpaid, said executives of various start-ups

FAME-II: Subsidies to Hero Electric, Okinawa halted for non-compliance

Centre has also asked Greaves Cotton's Ampere, Rattanindia's Revolt, Okaya and Jitendra EV to face an audit to be conducted by the Automotive Research Association of India (ARAI)

FAME II scheme helps put EV transportation on a par with ICE vehicles

The incentive scheme helps put green transportation on a par with ICE vehicles

Centre freezes subsidy of EV makers for violating PMP norms under FAME-II

Under the FAME-II scheme, the government releases incentives for various categories of EVs to OEMs. It has an outlay of Rs 10,000 crore

Indian EV market to hit annual sales of 17 mn units by 2030: Report

India's electric vehicle market is expected to expand at a compounded annual growth rate of 49 per cent between 2021-2030, with the segment's volumes set to cross annual sales of 17 million by 2030, a new report said on Tuesday. This projected growth is expected to be driven by factors such as rising fuel prices, entry of new players, advancement in EV technology, continued subsidy support from both the central and state governments as well as anticipated implementation of emission standards, India Energy Storage Alliance (IESA) said in its report. The EV industry in India experienced one of the quickest recoveries from the pandemic-induced slowdown in 2020, the report observed, noting that the electric two-wheeler segment, accounted for 50 per cent of the total over 4.67 lakh EV sales in the domestic market followed by the low-speed e-three-wheelers in 2021. However, other segments also showed notable increase over the course of the year, it stated. The report said that with a ...

'Renewable energy capacity addition rises 80% to 3.4 GW during Dec quarter'

Solar energy comprised 92 per cent of the total RE capacity added during the quarter, driven partly by a 142 per cent rise in installations of rooftop solar to 700 megawatts (MW)

CESL to launch the country's first grid scale battery storage program

Set to launch grand challenge for electric buses in cities