The Finance Ministry has greenlit an infusion of an extra Rs 1,500 crore into the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) scheme. The move aims to bolster the adoption of electric vehicles in India and promote sustainable mobility.
FAME II provides incentives for the purchase of electric vehicles and supports the development of charging infrastructure. This financial injection reflects the government's commitment to accelerating the transition to cleaner transportation and reducing the nation's carbon footprint.
The additional funding underscores the significance of FAME II in fostering the growth of the electric vehicle sector and aligns with India's broader sustainability goals.