Under Phase-II of FAME-India Scheme, incentives provided to buyers of electric vehicles in the form of an upfront reduction
New Delhi: Buoyed with the hefty incentives and ever-increasing prices of fossil fuel, the use of electric vehicles is increasing in the country.
As per the e-vahan portal (Ministry of Road Transport and Highways), at present, there are about 8.77 lakhs of active electric vehicles are on Indian roads.
Minister of State for Heavy Industries Shri Krishan Pal Gurjar in a written reply in the Lok Sabha on Tuesday, informed that under Phase-II of the FAME-India Scheme, incentives are provided to buyers of electric vehicles in the form of an upfront reduction in the purchase price of electric vehicles.
Further, the following two Production Linked Incentive (PLI) schemes are being implemented by the Ministry of Heavy Industries for the promotion of manufacturing of electric vehicles:
To give a push to the production of electric vehicles, the union cabinet on 12th May 2021 approved a Production Linked Incentive (PLI) Scheme for setting up manufacturing facilities for Advance Chemistry Cell (ACC), Battery Storage in India, with a total manufacturing capacity of 50 Giga Watt Hour (GWh) and with an outlay of Rs. 18,100 crores for 5 years.
The government has approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components with a budgetary outlay of Rs. 25,938 crores over a period of five years.
Electric vehicles are covered under Production Linked Incentive (PLI) Scheme for Automobile and Auto Components.
