Govt. of India readying FAME III scheme

The FAME III scheme is likely to cover alternative fuels like hydrogen.

According to a media report, the government of India is working on the next phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME III) scheme. Besides EVs, the new scheme is likely to cover alternative fuels as well.

The FAME scheme was introduced to promote manufacturing and sales of electric vehicles in the country. In the first phase, the focus was on electric 2-wheelers, wherein the government offered a 40% subsidy on the selling price.

Under FAME II, the subsidy on electric 2-wheelers was slashed to 15%. As per the latest reports, the third phase could see the inclusion of alternative fuels, such as hydrogen. It is also said that the government could offer enhanced support for electric 3-wheelers while reducing the subsidy on electric 2-wheelers.

The government is yet to formulate the FAME III scheme and is in the process of collecting additional inputs from industry stakeholders.

Source: ET Auto