NEW DELHI: The Indian government’s commitment to sustainable mobility and reduction of vehicular emissions is exemplified by the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India) initiative.
The second phase of this scheme, known as FAME-II, has made noteworthy strides in promoting the adoption of electric vehicles (EVs) across the nation.
As per recent data provided by the Ministry of Heavy Industries, a total of 16.15 lakh electric vehicles have received financial incentives under this scheme, marking a significant advancement in India’s transition towards cleaner transportation options.
The statistics detailing the distribution of incentivised EVs under FAME-II further illuminate the breadth of this initiative. The scheme has facilitated the uptake of 14.27 lakh electric two-wheelers, which constitute the bulk of the incentivized vehicles.
Moreover, it has supported the adoption of 1.59 lakh electric three-wheelers, 22,548 electric four-wheelers, and 5,131 electric buses. This diversified approach not only targets individual consumers but also public transport, thereby fostering a multifaceted transition to electric mobility.
In tandem with vehicle incentives, the establishment of charging infrastructure is critical for the success of the EV ecosystem. As of October 31, 2024, the government has sanctioned a total of 10,985 EV public charging stations (PCS), with 8,812 already earmarked for installation.
EV adoption increases
This expansion is crucial to alleviate range anxiety among potential EV users and to ensure the seamless integration of electric vehicles within the country’s transportation framework. To date, a total of 25,202 public charging stations have been installed across India, with Karnataka leading in infrastructure development, followed closely by Maharashtra and Uttar Pradesh.
The financial implications of the FAME-II scheme are substantial, with a total expenditure of Rs8,844 crore thus far. This includes Rs6,577 crore allocated for subsidies aimed at making EVs more affordable for consumers, alongside Rs2,244 crore dedicated to capital assets and an additional Rs23 crore for miscellaneous expenses.
These investments are underpinned by complementary policy initiatives, such as the reduction of Goods and Services Tax (GST) on EVs, which jointly contribute to fostering an environment conducive to the proliferation of electric vehicles in India.
Furthermore, the FAME-II scheme’s framework incorporates a phased manufacturing program, laying the foundation for a self-sustaining EV manufacturing ecosystem within the country. The government’s strategic emphasis on local production and job creation in the EV sector enhances both economic growth and environmental sustainability.
In this regard, the recent announcement of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, which boasts a budget of Rs10,900 crore for the next two years, underscores the government’s ongoing commitment to accelerate EV adoption and establish comprehensive charging infrastructure.
