 "Govt sanctions Rs 800 cr for installing 7,432 EV fast charging stations")
The Ministry of Heavy Industries on Tuesday said Rs 800 crore under FAME India Scheme Phase II has been sanctioned to three PSU oil marketing companies (OMC) for setting up 7,432 public fast charging EV stations across the country.
The amount has been sanctioned under FAME Scheme Phase II.
The ministry has released Rs 560 crore or 70 per cent of the total amount to three OMCs -- Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) -- as the first installment for the installation and commissioning of upstream infrastructure and charging equipment of EV public charging stations at respective retail outlets in the country.
The installation is expected to be completed by March 2024, the ministry said in a statement.
At present, there are 6,586 charging stations across the country.
"The addition of the new 7,432 public charging stations will be a significant push to EV charging ecosystem," the release said, and added the charging capacity would be used for charging electric 2-wheelers, 4-wheelers, light commercial vehicles, and mini-buses.
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Mahendra Nath Pandey, Minister of Heavy Industries said the move will give a boost to the electric vehicle ecosystem in India and encourage more people to switch to cleaner modes of transportation.
He also added that the government is committed to promoting sustainable green mobility solutions and reducing the country's carbon emissions, working towards Prime Minister Narendra Modi's Net Zero mission.
The minister further said the move will create a robust charging infrastructure network in India that is more accessible to the public.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)