Fame 2 Scheme Revision: Reduction In Subsidy To Not Affect EV Growth
India has always been a land of subsidies owing to its high price sensitivity. The FAME (Faster adoption and Manufacturing of Electric Vehicles) Scheme was launched by the government of India in 2015 to promote the Electric Vehicle (EV) journey. The recent amendments to the Fame 2 scheme has led to the reduction of the subsidy from the Government of India.
Though many manufacturers’ body believe that this subsidy would have a huge hit on sales, Ola Electric, Ather Energy and others believe it to be just a short-term impact and that it will not affect its growth momentum in the long-term. They believe that the scheme has served its purpose of demand incentivisation and now the EV industry must stand on its own.
Read More On: The Hindustan Times