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How the FAME II policy revision will accelerate the adoption of EVs in India

How the FAME II policy revision will accelerate the adoption of EVs in India

Electric vehicle adoption has been slowly picking up pace in India, as the government, manufacturers and suppliers work together to make offerings better suited for the market. The initial growth is expected to be driven by two-wheelers, which is where we’re seeing the most activity these days. The Union government has just announced the biggest update to the FAME II policy, which will further accelerate EV adoption.

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(Image credit: Ather Energy)

This piece contains inputs from Tarun Mehta, CEO and Co-founder, Ather Energy

The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) policy had an initial budget of Rs 10,000 crores till March 2022, but only about Rs 492 crores has been allocated till now (via Mint).