India Allocated Rs 5.2cr To Subsidize 11.53 lakh Electric Vehicles: Govt

Latest data from the Ministry of Heavy Industries claimed that the Union government allocated a total of Rs 5.2 crore as subsidies to incentive 11.53 lakh electric vehicles (EVs) in the country by the end of December 1, 2023. The information was recently shared by the ministry in a media statement. The ministry said that the subsidies were disbursed under the FAME-II (Faster Adoption of Manufacturing Of Electric Vehicles) scheme. 

“Under Phase II of FAME India Scheme, subsidy amounting to Rs. 5,228 crore has been given to electric vehicle manufacturers on sale of 11,53,079 numbers of electric vehicles as on 01.12.2023. Under FAME – II as on date, various STU’s/CTU’s/ Municipal corporations have placed Supply Orders for 3390 e-buses against quantities sanctioned by MHI. Out of those, 3037 e-buses have been deployed till now. Further, another 3,472 e-buses case is being dealt through Convergence Energy Services Ltd. (CESL) under the aggregation model of NITI Aayog. Out of these 3,472 e-buses, 454 electric buses have been deployed. Thus, under FAME-II scheme, a total of 3390+3472=6862 e-buses will be eventually deployed in the various States,” the government said in a statement.

The ministry also said that a total of 148 electric vehicle Public Charging Stations (PCS) have been commissioned. On 28.3.2023 MHI announced sanction of Rs.800 crores under FAME II to the PSU Oil Marketing Companies (OMC) – Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) – for setting up 7432 public fast charging stations across the country. The ministry also talked about the achievements under the PLI scheme. 

“18 companies under ‘Champion OEM’ category and 67 companies under ‘Component Champion’ category, approved under the Scheme, are implementing the PLI Auto Programme. Total estimated investment to be made by the implementing firms is to the tune of Rs. 67,690 crores. Standard Operating Procedure (SOP) for certification of Domestic Value Addition (DVA) has also been prepared and shared with approved PLI applicants on 27.4.2023. Total investment of Rs. 11,958 crores have been reported till Q2 of FY 2023-24. Tata Motors and M&M have been issued Advanced Automotive Technology (AAT) and Domestic Value Addition (DVA) certificates,” the ministry said. The MHI also talked about the success of the Advanced Chemistry Cells (ACC) scheme.

It estimates that an investment of approx. Rs. 14,810 crore is expected to be made by the implementing firms for 30 GWh ACC capacity. The scheme would give impetus to the ACC manufacturing ecosystem in the country to meet the growing demand. Re-bidding for balance 20 GWh is under process. The scheme would give an impetus to the ACC manufacturing ecosystem in the country to meet the growing demand, and re-bidding for balance 20 GWh is under process.