It is expected that the new version of the FAME scheme will give exemptions and subsidies for manufacturing electric vehicle components and to buyers of electric vehicles for commercial purposes like public transport. Photo: HTNew Delhi: The Union government on Friday decided to extend the Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles (FAME) scheme by six months until 30 September 2018, or till the time the second phase of the scheme is approved by it. The department of heavy industries has already prepared a draft of the second phase of the scheme, which has been sent to the finance ministry for approval. Automobile manufacturers were eagerly awaiting an extension of the FAME scheme before the second phase is introduced some time during the current fiscal year. “We thank the government for extending the FAME scheme for another six months.

Source: Mint April 13, 2018 22:52 UTC