To encourage electric vehicles in the country, the Ministry of Heavy Industries has introduced a new plan with Rs 500 crore.
This plan will be active from April to July for four months, benefiting two-wheelers and three-wheelers.
Two-wheelers will receive significant support. The FAME-2 plan aimed to boost the use and production of electric vehicles in India, ending its second phase on March 31, 2024.
Minister Mahendra Nath Pandey mentioned that Rs 10,000 assistance will be given for each two-wheeler. The goal is to help 3.3 lakh two-wheelers.
E-rickshaws and e-carts will also get subsidies. A Rs 25,000 assistance is available for small three-wheelers (like e-rickshaws and e-carts), benefiting over 31,000 such vehicles.
A financial aid of Rs 50,000 is provided for purchasing large three-wheelers. The subsidy under the FAME scheme’s second phase applies to e-vehicles sold until March 31, 2024, or until funds are available.
