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:

1. 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.

2. Charging Infrastructure: The scheme provides support for the development of charging infrastructure, including fast-charging and slow-charging stations. The goal is to build a robust charging infrastructure that will make it easy for people to charge their electric vehicles, and to encourage more people to buy them.

3. Technology Development: The scheme also provides support for the development of electric vehicle technology in India. This includes R&D funding and support for the development of advanced battery technology, as well as for the development of electric vehicle components such as electric motors and power electronics.

4. Manufacturing: The scheme also provides support for the manufacture of electric vehicles and components in India. This includes funding for the development of new manufacturing facilities, as well as for the expansion of existing facilities.

5. Fleet Operators: The scheme also provides incentives for fleet operators to adopt electric vehicles, with an aim to increase the share of electric vehicles in commercial fleets.

Overall, the scheme is intended to promote the development of a sustainable electric vehicle ecosystem in India, with the goal of reducing dependence on fossil fuels and lowering emissions, while also creating new jobs and boosting economic growth.