Page 4 - Fame

E2W makers gear up for scale, hope FAME will continue to fuel operations

The key to increasing volumes is to offer more products at varying price points and expand distribution and markets

EV sales across categories see yearly rise in April, shows FADA data

According to data, on a yearly basis, passenger vehicles saw 159 per cent increased compare to April 2022, up from 2,252 units to 5,824 units

TVS Motor to refund Rs 20 crore to customers as goodwill benefit scheme

TVS Motor Company on Wednesday said it will refund around Rs 20 crore as a goodwill benefit scheme to customers who have paid over and above the threshold limit fixed under the FAME scheme. The company however maintained that it has fully complied with all government regulations specified under the FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) initiative. In a statement, TVS Motor Company Director and CEO K N Radhakrishnan said the company is fully committed to the government's vision to promote electric mobility. The company also fully supports the government's initiative to enable faster adoption of electric mobility, development of electric vehicle eco-system, he added. "In the spirit of Atmanirbhar Bharat all the electric development has happened in house," Radhakrishnan said. Additionally, as a responsible corporate, TVS Motor has fully complied with all government regulations specified under FAME. "Further, towards alleviating ambiguity .

TMS Ep424: Rural demand, FAME, QSR stocks, National Medical Devices Policy

What do the Q4 results tell us about rural demand? What went wrong with the FAME scheme? Will softening inflation bring respite to QSR stocks? What's the National Medical Devices Policy? Answers here

FAME 3.0: Centre will take a call only if funds in surplus, say officials

Concerns regarding strict domestic value addition (DVA) clauses in the scheme have been addressed in the SOPs

Electric vehicle sales cross 1-mn units in India, register growth of 58%

Two-wheelers are the biggest contributors, at 62% of total EV sales in the country

Aim to make FAME scheme more transparent: Minister for Heavy Industries

"The ministry is considering every direction (on penalty) but we will take a decision based on the recommendation in the investigation report"

OMCs get Rs 800 crore to set up over 7,000 fast-charging stations

The installation is expected to be completed by March 2024

Nearly 80% of targetted 1 mn e-two-wheelers sponsored under FAME so far

In the eleven months of FY23, some 649,000 E2Ws were sold at an average of 59,000 units a month. E2W made up more than 60% of the overall 1.04 million EVs sold so far

FAME: Electric 2-wheeler manufacturers deny allegations of non-compliance

Allegations have been made that the manufacturers are availing subsidy benefits without complying with the localisation requirements

Unintended consequences

Subsidy on EVs must be revisited

Maharashtra tops list of states buying EVs through FAME scheme

In electric four wheelers, including cars, Delhi came top

Heavy Industries ministry budget doubled; 93% goes towards e-mobility

79% of the total Rs 6171.63 cr that the ministry received was for FAME

Govt subsidy halt pushes OEMs to drive electric vehicle prices up

A few, such as Hero Electric, keep the status quo on prices

Continue FAME subsidy till EV penetration touches 10%: Greaves Electric CEO

The govt subsidy for the purchase of EV to the vehicle makers should continue till the market reaches an EV penetration of 8-10 per cent, said a top official of Greaves Electric Mobility Private Ltd.

EV makers not misappropriating subsidies under FAME scheme, says SMEV

The Society of Manufacturers of Electric Vehicles on Thursday hit out at the government for holding back incentives under the FAME II scheme. In response to a reply made by Union Heavy Industries Minister Mahendra Nath Pandey in the Lok Sabha on Tuesday that the ministry has received complaints regarding misappropriation of subsidies under the FAME India Phase II scheme by some electric vehicles manufacturers, the industry body said the allegation is "invalid in the context of the issue at hand." The government is probing 12 automakers, including Hero Electric and Okinawa Autotech, for alleged misappropriation of subsidies under the Rs 10,000 crore FAME II scheme. In a statement, Society of Manufacturers of Electric Vehicles (SMEV) Secretary General Ajay Sharma said due to the impact of COVID-19, the Phased Manufacturing Programme (PMP) guidelines under FAME India Scheme Phase-II were expected to be revised but for various reasons were not modified "in spite of clear indications tha

Govt probing 12 automakers for alleged misappropriation of FAME subsidies

The government is probing 12 automakers including Hero Electric Vehicles and Okinawa Autotech for alleged misappropriation of subsidies under the Rs 10,000 crore FAME scheme, Union Heavy Industries Minister Mahendra Nath Pandey informed Parliament on Tuesday. The complaints received the government mainly relate to violation of Phased Manufacturing Programme (PMP) guidelines under FAME India Scheme Phase-II, he added. The other Original Equipment Manufacturers (OEMs) against whom complaints have been received include Benling India Energy and Technology; Okaya EV; Jitendra New EV Tech; Greaves Electric Mobility (formerly Ampere Vehicles Private Limited); Revolt Intellicorp; Kinetic Green Energy & Power Solutions; Avon Cycles; Lohia Auto Industries; Thukral Electric Bikes; and Victory Electric Vehicles International. "All the complaint cases have been referred to the testing agencies for re-verification. After examination of reports in respect of two OEMs, the models of these two ...

FAME II: E2W makers want govt to delay localisation norms by 12-18 months

The supply chain for electric two-wheelers (E2Ws) is coming into shape but still not ready, argues the industry association SMEV

Govt to adopt digital manufacturing processes: Mahendra Nath Pandey

On the occasion, 175 electric vehicles for Gujarat and Karnataka were flagged off under the FAME Scheme

Indians show higher preference for hybrid than for pure EVs: Survey

The trend comes as a stark contrast for a market like India, where EVs and not hybrids are getting the massive subsidy push from policymakers under the FAME scheme