"Unveiling India's Electric Vehicle Subsidy Landscape: From FAME-II to State Incentives"

 Exploring Electric Vehicle Subsidies in India

To offer a comprehensive view of electric vehicle (EV) subsidies in India, let's delve deeper into the intricacies of various schemes and incentives available nationwide:

1. FAME-II (Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles):

   • FAME-II stands as India's primary scheme for accelerating electric mobility, now operating in its second phase.
   • With a substantial budget allocation of ₹10,000 crore, FAME-II incentivizes EV adoption through significant subsidies.
   • Under FAME-II, incentives vary based on vehicle type and battery capacity:
     • Two-Wheeler EVs: Subsidy of ₹15,000 per kWh, up to 40% of the vehicle cost (battery capacity: 2 kWh).
     • Three-Wheeler EVs: Subsidy of ₹10,000 per kWh (battery capacity: 5 kWh).
     • Four-Wheeler EVs: Subsidy of ₹10,000 per kWh, up to ₹1.5 lakhs (battery capacity: 15 kWh).
     • Electric Buses (E-Buses): Subsidy of ₹20,000 per kWh (battery capacity: 250 kWh).

2. State-Wise EV Subsidies:

   • In addition to FAME-II, individual states have formulated their own EV promotion policies, each with specific subsidy criteria.

3. Other Incentives:

   • EV buyers across India can benefit from various additional incentives, including direct purchase discounts, coupons, interest subventions on loans, road tax and registration fee exemptions, income tax deductions, and scrapping incentives for old vehicles.
   • Specific schemes also offer interest-free loans, top-up subsidies, and special incentives for electric three-wheelers.

This comprehensive array of incentives aims to catalyze the widespread adoption of electric vehicles, fostering a greener and more sustainable future for India's transportation landscape.

Feel free to utilize this detailed information to enrich your understanding of EV subsidies and incentives in India! 🚗🌱

Sources:

• NITI Aayog - Electric Vehicle Incentives
• Tata Capital - State-Wise EV Subsidies In India
• CarBikeIndia - Government Subsidy For Electric Vehicles in India
• Additional sources provided upon request.