The FAME II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme is a flagship initiative by the Government of India launched in 2019 to promote electric mobility. With a budget allocation of \u20b910,000 crore, FAME II aims to support the adoption of electric two-wheelers, three-wheelers, four-wheelers, and electric buses used for public and commercial transport. The scheme not only incentivizes vehicle buyers but also encourages manufacturers to develop cleaner technologies and supports the development of EV charging infrastructure across the country.<\/p>\n\n\n\n
One of the key advantages of the FAME II scheme is the upfront financial incentive provided to consumers. For electric two-wheelers, buyers receive a subsidy of \u20b915,000 per kWh, capped at 40% of the vehicle cost. For electric three-wheelers and buses, the scheme provides greater subsidies based on battery capacity and usage type. Manufacturers benefit from increased demand, while public transport agencies get financial support for adding electric buses to their fleets, reducing pollution and operating costs.<\/p>