Incentives-subsidies for e-2W increased to Rs.15,000/KWh
Sixty-four electric vehicle manufactures have registered for availing demand incentives under FAME-India Scheme Phase-II as on October 2022, Minister of State for Heavy Industries Krishan Pal Gurjar said in a written reply to a question in Rajya Sabha on 9 Dec.
He gave details of demand incentives given under Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles in India (FAME) scheme phase-II, category-wise.
These are:
e-2 Wheelers for approximately Rs.2,464.27 crore;
e-3 Wheelers for approximately Rs.351.21 crore;
e-4 Wheelers for approximately Rs.114.65 crore;
e-buses for approximately Rs.687.93 crore.
There are 1,802,967 e-vehicles in the country, he said.
Further, Gurjar elaborated on three schemes formulated by the Ministry of Heavy Industries to promote the use of electric vehicles in the country and to make their manufacturing cost effective.
These are:
Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India): The Government notified Phase-II of FAME India Scheme initially for a period of three years commencing from 1 April 2019 with a total budgetary support of Rs.10,000 crore. The Scheme was extended for a further period of 2 years up to 31 March 2024.
Under FAME-India Scheme phase-II, incentives are provided to buyers of electric vehicles in the form of an upfront reduction in the purchase price of electric vehicles. The incentive is linked to battery capacity i.e. Rs.10,000/KWh for e-3W and e-4W with a cap 20% of the cost of vehicle.
Further, the incentive and subsidies for e-2W have been increased to Rs.15,000/KWh from Rs.10,000/KWh with an increase in cap from 20% to 40% of the cost of vehicle w.e.f. 11 June 2021.
Production Linked Incentive (PLI) Scheme for Automotive Sector: The Government on 15 Sept 2021 approved the PLI Scheme for Automotive Sector with a budgetary outlay of Rs.25,938 crores. Electric vehicles are covered under this PLI scheme.
PLI Scheme for Advanced Chemistry Cell (ACC): The Government on 12 May 2021 approved PLI Scheme for manufacturing of ACC in the country with a budgetary outlay of Rs.18,100 crore. The scheme envisages to establish a competitive ACC battery manufacturing set up in the country for 50 GWh. Additionally, 5GWh of niche ACC technologies is also covered under the Scheme. fiinews.com
