FAME II Subsidy: Government will give Rs 500 crore to 4 e-scooter companies, know what is fame subsidy

New Delhi. The government has decided to release subsidy of over Rs 500 crore to 4 companies – Ola Electric, Ather Energy, TVS Motor Company and Hero MotoCorp under the FAME II scheme. has decided. According to the reports, this decision has been taken by the government after the decision to refund the amount taken for the charger to the consumers.

Government sources told TOI that the maximum amount that Ola can get is around Rs 370 crore. Ather can get around Rs 275 crore, TVS around Rs 150 crore, Hero MotoCorp can get around Rs 28-30 crore.

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What is FAME
A few years ago, the government introduced the Faster Adoption of Electric Vehicles in India (FAME) subsidy to promote electric vehicles. In the year 2019, it was introduced by the government for the first time and people were given the benefit of subsidy on the purchase of electric vehicles. The government fixed it at Rs 10,000 per kilowatt. The government introduced Fame 2 in 2021 to further promote it. Under Fame 2, the amount of subsidy was increased and it was increased from ten thousand to 15 thousand rupees per kilowatt.

Customers get benefit
The benefit of fame subsidy is available to the customers who buy EV. For example, if you buy a car worth Rs 1 lakh and it has a 2 kW electric motor, you will save Rs 30,000 on it at the rate of Rs 15,000 per kW.

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Tags: Auto News, Bike News, E-Vehicle, electric vehicles, Electric Vehicles, Hero motocorp, Ola Cab, tvs