The Heavy Industries Ministry notified that the government would reduce the subsidy provided under the FAME-II scheme applicable to electric two-wheelers registered on or after June 1, 2023.The Heavy Industries Ministry notified the changes. For electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present.
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The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for a period of two years up to March 31, 2024. FAME India Scheme is a part of the National Electric Mobility Mission Plan.
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