Page 2 - Fame

FAME-II guidelines clear and companies defaulted knowingly, says govt

The ministry has started the investigation in the cases of subsidy violation in April last year to probe procedural lapses and role of officers that led to the funds wrongly being disbursed

Relief unlikely for OEMs seeking FAME benefits with pre-deadline stocks

Despite appeals from industry stakeholders, the ministry of heavy industries (MHI) will not change its stance, said sources

GreenCell Mobility gets Rs 300 crore credit from SMBC for UP e-bus project

Under the terms of the agreement, SMBC has extended a long-term project finance facility to GreenCell Mobility for its 350 electric buses project in Uttar Pradesh, the company said in a statement

Over 90% of fund gets used before FAME deadline; supports 1.5 mn vehicles

Government officials stated that some more funds will also be utilised for vehicles that were sold before 31 March but have not yet applied for incentives

PLI incentives for FY24 remain at Rs 6,800 crore, far from govt estimates

Singh shared government's plans to make PLI schemes for textiles, bulk drugs, food products, and solar PV modules relatively attractive by adding more product lines and extending the timelines

EMPS 2024: Electric two-wheeler makers fear Rs 300 cr blow from new scheme

OEMs meet ministry officials, flag four key concerns

FAME II not getting extension is setback for industry: Switch Mobility CEO

Switch Mobility, the electric vehicle arm of commercial vehicle major Ashok Leyland, recently obtained its FAME II certificate, and the scheme is ending for them on March 31

Centre likely to drag defaulters of FAME scheme to Delhi High Court

In addition to taking legal action in court, the ministry is also "debarring" these OEMs from participating in any other government schemes administered by the ministry

Centre replaces FAME with EMPS to promote e2W, e3W, 4-wheelers kept out

The upcoming Electric Mobility Promotion Scheme is set to debut on April 1, supplanting the current Faster Adoption and Manufacturing Electric Vehicles- Phase-II initiative

Electric two-wheeler sales likely to miss NITI Aayog target for FY24

Dealers feel a major reason for the dip is the reduction of FAME subsidy by the government

Manufacturing sentiment remains upbeat in Q3, Q4 for FY24: Ficci survey

The survey found that 85 per cent of respondents in the current fourth quarter of the financial year 2023-24 are expecting a higher number of orders compared to 73 per cent in the previous quarter

FAME II EV subsidies till March-end or until funds are available: Govt

Subsidies under the second phase of FAME Scheme will be eligible for e-vehicles sold till March 31, 2024 or till the time funds are available, whichever is earlier, the government said on Friday. To give a further push to clean mobility in the country, the Ministry of Heavy Industries has announced that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme has been enhanced from Rs 10,000 crore to Rs 11,500 crore, an official statement said. The heavy industries ministry said in the statement that the second phase of its flagship scheme to promote adoption of EVs in India -- FAME II -- was "fund- and term-limited". "It is hereby informed that the scheme is fund and term limited scheme i.e. the subsidies for demand incentive will be eligible for e-2w, e-3w and e-4w sold till March 31, 2024 or till the time funds are available, whichever is earlier," it added. As per the revised outlay, electric two-wheelers, electric three-wheelers, an

After brisk start, electric vehicle penetration loses momentum in FY24

Electric two-wheelers, which were expected to lead the charge, are a case in point, especially after the government sharply cut back the subsidy given to manufacturers in the middle of last year

Mass mobility

FAME-III will drive low-emission public transport

PM-KISAN to Ayushman Bharat: Key changes possible in interim Budget

Interim Budget: Nirmala Sitharaman has said that there may not be big announcements. However, various reports have suggested that there may be some changes in many of the Centre's schemes

EV push: FAME-III scheme set to power electric buses this Union Budget

Plans are also being drawn up to reduce the allocation for electric two-wheelers to Rs 2,500 crore from Rs 5,311 crore

Rs 26,400 cr on the cards for FAME-III, Rs 200 cr to support e-tractors

Further discussions on basic contours of scheme are currently ongoing. Focus of proposed scheme will clearly be on enhancing electric-based and environment-friendly public transportation in country

Finance Ministry approves additional Rs 1,500 cr for FAME-II scheme

Govt had till Dec 26 utilised Rs 8,948 crore of the Rs 10,000 cr allocated under the scheme

FAME III: India to replace 800k diesel buses with electric over 7 years

To drive EV adoption in India, the government is devising a plan to replace nearly one-third of diesel buses on roads

FAME subsidy needed for 3-5 years: Kinetic Green founder and CEO

Motwani spoke about the need to have subsidies under Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) for three-five year