what is FAME II
FAME II (Faster Adoption and Manufacturing of Electric Vehicles in India) is a government of India scheme to promote the adoption and manufacturing of electric vehicles in India. The scheme was launched in 2019 with a budget of $1.4 billion and is intended to run for a period of three years. The goal of the scheme is to encourage the use of electric vehicles and help India reduce its dependence on fossil fuels and lower emissions. The scheme provides incentives for the purchase of electric vehicles, as well as for the development of charging infrastructure and the manufacture of electric vehicles and components in India. FAMEhas several components, including the following: Demand Incentives: The scheme provides incentives for the purchase of electric vehicles, including electric two-wheelers, three-wheelers, four-wheelers, and buses. These incentives are aimed at reducing the upfront cost of electric vehicles for buyers and making them more affordable. Charging Infrastructure: The sche...