Friday, Apr 19 2024 | Time 17:51 Hrs(IST)
image
Business EconomyPosted at: Nov 30 2021 11:28PM


Ministry of Heavy Industries gives Rs 564 cr incentive to 1.65 lakh EVs

New Delhi, Nov 30 (UNI) The Government’s scheme of faster adoption and manufacturing of hybrid and electric vehicles in India ‘FAME India’, has been rapidly gaining momentum with the Ministry of Heavy Industries (MHI), supporting about 1.65 lakh electric vehicles under phase-II of FAME India scheme as on 25 November, 2021.
The support has come by way of demand incentive amounting to about Rs 564 crore and a further, 6,315 electrical buses have been sanctioned to various state/city transport undertakings under phase-II of the scheme, Minister of State for Heavy Industries, Krishan Pal Gurjarin informed Lok Sabha on Tuesday.
The Ministry has also sanctioned 2,877 electric vehicles (EVs) charging stations amounting to Rs 500 crore in 68 cities across 25 states/UTs and 1576 charging stations amounting to Rs 108 crore across 9 expressways and 16 highways under FAME India scheme phase II. As per a Society of Indian Automobile Manufacturers (SIAM) report, the auto industry generates employment of 13 persons for each truck, 6 persons for each car and four persons for each three wheelers and one person for two-wheelers.
The FAME-India scheme was formulated in March 2015 to promote adoption of electric/ hybrid vehicles (xEVs) in India. Phase l of the scheme was available up to 31 March, 2019 with four focus areas, namely, demand creation, pilot project, technology development/R&D and charging infrastructure. Based on the outcome and experience gained during phase-I and following consultations with industry associations and all stakeholders, the Government notified phase-II of FAME India on 8 March, 2019.
The second phase of the programme is for a period of 5 years, effective from 1 April, 2019, with a total budgetary support of Rs 10,000 crore. This phase focuses on supporting electrification of public and shared transportation and aims to support, through subsidies, approximately 7000 e-buses, 5 lakh e-3 wheelers, 55000 e-4 wheeler passenger cars and 10 lakh e-2 wheelers. In addition, creation of charging infrastructure is also supported to address range anxiety among users of electric vehicles.
In the first phase of the scheme, about 2.8 lakh hybrid and electric vehicles were supported by way of demand incentive, amounting to about Rs 359 crore. The Ministry had also sanctioned 425 electric and hybrid buses to various cities in the country with a total cost of about 280 crore. Around 520 charging stations/infrastructure for Rs 43 crore under Phase-I of FAME India was sanctioned by the Ministry. Further, specific projects under pilot projects, R&D/ technology development and public charging infrastructure components were sanctioned by the project implementation and sanctioning committee for extending grant under the different focus areas of the scheme.
UNI NMJ SHK2328
Please log in to get detailed story.
Tags: #Ministry of Heavy Industries gives Rs 564 cr incentive to 1.65 lakh EVs
More News

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..

Kottayam-Kochi Rubber Market rates

19 Apr 2024 | 5:02 PM

Kottayam, April 19 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Friday per quintal.

see more..
Sensex jumps 599 34 pts

Sensex jumps 599 34 pts

19 Apr 2024 | 4:56 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 pts to close at 73088.33 on the strength of Bankex, Metal, Financial services and Consumer Durable stocks amid weak Asian Market.

see more..

Sund Home Fin expands presence in Rajasthan

19 Apr 2024 | 4:36 PM

Chennai, Apr 19 (UNI) After its recent expansion in Western India, Sundaram Home Finance (SHF)
has expanded its presence in Central India with the opening of its new office at Kota in Rajasthan.

see more..
image