FAME Scheme: Rs 88.44 billion spent on electric vehicle incentives

The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-India) Scheme, launched to promote electric mobility, has spent Rs 88.44 billion as of October 31, 2024. 

This includes Rs 65.77 billion in subsidies, Rs 22.44 billion for capital assets, and Rs 230 million for other expenses. 

Under FAME-II, launched in 2019 with an outlay of Rs 115 billion, 1.6 million electric vehicles (EVs) have been incentivized, including 1.4 million electric two-wheelers (e-2Ws), 0.159 million electric three-wheelers (e-3Ws), 22,548 electric four-wheelers (e-4Ws), and 5,131 electric buses. 

The scheme also includes 10,985 EV public charging stations (PCS), with 8,812 allocated for installation.

Source: PIB