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      Know Everything about Electric Vehicles (EV) Subsidies in India

      Electric two-wheelers are establishing a co-existence with petrol-power bikes/scooters in India. But, there are many factors contributing to the EV adoption, like low cost of running, lower rate of pollution and one of the most important factors subsidies.

      We have two types of these, Fame II and state subsidy in India.

      So you must have questions like :

      • What exactly do they account for?
      • How do you avail of them?
      • What’s the amount?

      What is FAME II?

      Of the two subsidies available in India, FAME II is the standard one and can be availe in any part of the country.

      FAME stands for Faster Adoption and Manufacturing of Hybrid and EV and was implement in 2019.

      It will be active till 21 March 2024.  

      The basic criteria that an electric two-wheeler should meet for eligibility for the FAME II are, Offer a minimum range of 80km in one charge, clock at least 40kmph of speed and be localize to a certain extent as specified by the government.  

      The central government has allocate a Rs 15,000 incentive for per kWh of a battery unit.

      For example, the Ather 450X benefits from a subsidy of Rs 43,500 and the Ola S1 Pro’s price goes down by Rs 59,550.

      The incentive amount can’t exceed 40% of total cost of the two-wheeler.

      Not to mention, manufacturers mention the asking price of their two-wheeler including the FAME II benefit.  

      What is State subsidy?

      Customers can also avail of the state subsidies which are available in various parts of India.

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      The amount varies as per the state since some of them offer a fix incentive while others consider the battery capacity.  

      For example, in the state of Maharashtra, buyers can avail of Rs 10,000 as a fix incentive on their e-scooter/bike purchase.

      EVs with a battery warranty of 5 years are also fit for an additional incentive of Rs 12,000. 

      Buyers in Gujarat can only benefit from Rs 10,000 per kWh of the battery without exceeding 20% of the total value of the vehicle. 

      Customers will have to submit their Aadhar details and pay the full amount for their EV.

      The subsidy amount will be then transfer to the customer’s bank account link with the submit Aadhar card number.   

       

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