Page 3 - Fame
Okinawa acknowledged violating FAME scheme: Govt in Delhi High Court
HC asks govt to submit affidavit; next court hearing on December 18
 "Okinawa acknowledged violating FAME scheme: Govt in Delhi High Court")
Electric buses to account for 13% of new bus sales by FY25, says ICRA
E-bus penetration has reached 7 per cent in FY2023, it noted
 "Electric buses to account for 13% of new bus sales by FY25, says ICRA")
Finmin questions rationale for extending FAME scheme beyond current fiscal
The Heavy Industries Ministry proposed an extension to subsidies for EVs under FAME III with a higher allocation for five more years to support the growth of electric and alternate fuel vehicles
 "Finmin questions rationale for extending FAME scheme beyond current fiscal")
Govt shifts into high gear to expand subsidies to alternative fuel vehicles
According to a senior government official, there is a proposal to incorporate vehicles powered by alternative sources such as hydrogen and biofuels in the upcoming phase of FAME
 "Govt shifts into high gear to expand subsidies to alternative fuel vehicles")
Electric two-wheelers push for DBT under FAME 3 subsidy scheme to consumers
Say huge delay in government's subsidy reimbursements choking their working capital
 "Electric two-wheelers push for DBT under FAME 3 subsidy scheme to consumers")
Electric 2-wheeler demand slowing down due to reduced subsidy: CARE Ratings
The reduction in FAME subsidy is slowing down demand for electric two wheelers and the manufacturers will now have to focus on achieving price reduction through R&D and innovation, a report said on Thursday. The medium term sales trajectory for two wheelers, which include e-two wheelers as well, is anticipated to be modest, characterised by uncertainties and driven by a host of factors, it said. In its report, CARE Ratings said the core segments of two wheelers, specifically the 75 cc - 110 cc range in motorcycles and the 75 cc - 125 cc range in scooters, have shown a sharp sales volume decline from FY19 to FY22, with a slight recovery seen in FY23. Sales of electric two wheelers also significantly declined in Q1 FY24 due to the government withholding FAME subsidies for certain Original Equipment Manufacturers (OEMs), it said. Additionally, the report said that a subsidy reduction to Rs 10,000 per kWh from Rs 15,000 per kWh and 15 per cent of the ex-factory price from 40 per cent .
 "Electric 2-wheeler demand slowing down due to reduced subsidy: CARE Ratings")
Electric vehicle penetration gap widens between India and other nations
The UK, which is looking at withdrawing all subsidies on EVs, has seen penetration in the same period going up from 2 per cent to 23 per cent
 "Electric vehicle penetration gap widens between India and other nations")
FAME investigation paves way for indigenous EVs, fair competition: OEMs
Disbursement of halted claims will help drive sales in the festive season
 "FAME investigation paves way for indigenous EVs, fair competition: OEMs")
Electric two-wheeler firms cut on battery size after FAME subsidy reduced
Portfolio rejig may keep prices low for customers
 "Electric two-wheeler firms cut on battery size after FAME subsidy reduced")
If OEMs refuse to return money, legal recourse will be taken: Kamran Rizvi
'We are in the process of coming up with the next round of bids for 20 gigawatt of capacity'
 "If OEMs refuse to return money, legal recourse will be taken: Kamran Rizvi")
Top headlines: Rail freight's 1st dip after Covid, Kharif sowing falls 9%
Business Standard brings you the top headlines at this hour
 "Top headlines: Rail freight's 1st dip after Covid, Kharif sowing falls 9%")
Centre calls alleged FAME scheme defaulters for hearing from July 13
Either return subsidy or face legal action: Govt to firms
 "Centre calls alleged FAME scheme defaulters for hearing from July 13")
Auto retail sales touch 1.86 million in June, 10% more than last year: FADA
'New model introductions, festive promotions, seasonal factors couldn't markedly boost sales'
 "Auto retail sales touch 1.86 million in June, 10% more than last year: FADA")
Lohia Auto cuts costs, focuses on localisation amid FAME 2 challenge
Dealerships concerned about demand
 "Lohia Auto cuts costs, focuses on localisation amid FAME 2 challenge")
Centre to float tender for 3,500 electric buses in nine big cities
Fund diversion and savings on previous order to help meet the subsidy cost
 "Centre to float tender for 3,500 electric buses in nine big cities")
Ola announces price hikes for its electric scooters, to cost Rs 15k more
The reduction in subsidies is expected to trigger a wave of price hikes in electric scooter prices across the industry
 "Ola announces price hikes for its electric scooters, to cost Rs 15k more")
Deadline nearing, only 41% of Centre's FAME II scheme target met so far
As the government plans no further extension of the scheme beyond FY24, the task is to achieve the unfinished target of subsidising 914,707 EVs
 "Deadline nearing, only 41% of Centre's FAME II scheme target met so far")
Top headlines: Fitch affirms India's sovereign rating, FAME subsidy row
Business Standard brings you top news at this hour
 "Top headlines: Fitch affirms India's sovereign rating, FAME subsidy row")
FAME subsidy row: Centre to return Rs 800 cr to ex-factory price defaulters
The remaining Rs 287 crore will be released once the companies submit the details of the requirements, sources said
 "FAME subsidy row: Centre to return Rs 800 cr to ex-factory price defaulters")
Top 5 headlines: India Inc's net profit in Q4, FAME funds allocation & more
Business Standard brings you top news at this hour
 "Top 5 headlines: India Inc's net profit in Q4, FAME funds allocation & more")
