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The demand for Electric Vehicles is increasing all over the world, India is also seeing a bumper increase in the sales of electric two wheelers, especially in the sales of e-scooters. Due to the government’s FAME program, there is an increase in the sales of electric two wheelers in India, but now it has been learned that the government is going to get the benefits under the FAME II program.is going to reduce. If the subsidy is reduced, how will it affect your pocket? Let us tell you.
Revised FAME II program will impact EV sector and customers
Due to the subsidy received from the Central Government and the State Government, the electric segment had started getting a boost, now it is known that the government is going to revise the FAME II program. If the government cuts the subsidy received from the FAME II program, then it will directly mean that the pockets of the customers will be affected. Affecting the pocket of customers means affecting the sales of vehicles in the electric segment.
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FAME Meaning: What is the meaning of FAME?
If you are unaware of what FAME is, then let us first give you information about this. FAME stands for Faster Adoption and Manufacturing of Electric Vehicles in India.
In 2019, the central government started the FAME program and the objective of the government behind bringing this program was to promote the electric segment. The main objective of this program was to increase the sales of electric vehicles by 30 percent by 2023.
Who gets subsidy under FAME II scheme?
For the information of the people, let us tell you that under this scheme, the benefit of subsidy is given by the central government on the electric two wheels that come in the price of less than Rs 1.5 lakh.
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