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FICCI welcomes govt notification to extend FAME II scheme till 2024

Jun 25, 2021

  • Continuation of FAME II will help industry in capturing deferred demand for EVs

NEW DELHI, 25 June 2021: Welcoming the government notification to extend FAME II scheme till 2024, Ms Sulajja Firodia Motwani, Chairperson, FICCI Electric Vehicle Committee said, "Continuation of FAME II scheme will help the industry in capturing the deferred demand for electric vehicles (EV), with the support of the scheme. The demand for EV was severely affected due to pandemic and industry was really looking forward to the extension of FAME II scheme by few more years so that the amount allocated under the scheme could be deployed to accelerate demand for electric vehicles."

Recently, FICCI had suggested to the government, a series of measures to ensure continuity of the EV growth roadmap and achievement of the targets as envisioned by the government for the sector for the next decade and extension of FAME II was a key part of the recommendations. FICCI welcomes recent announcements by the government including extension of FAME II, and increased incentives for electric two wheelers. At the same time, FICCI has made few requests to the government to further accelerate EV demand including increased incentive for electric three wheelers, and towards increased availability of retail finance for EVs. 

FICCI's EV Committee comprises leading players from India's Electric vehicle sector working towards building a strong EV ecosystem towards a long-term vision of our nation towards electric mobility to lessen air pollution, achieve fuel security and technology leadership in this sector.