CURRENT AFFAIRS

Detailed explanation-1: -To qualify for FAME-2 subsidies, EV original equipment manufacturers (OEMs) must demonstrate that at least 50 percent of the components in their vehicles are manufactured in India and locally sourced.

Detailed explanation-2: -The second phase (FAME II) is a 3-year subsidy programme. It aims at supporting the electrification of public and shared transportation: around 7,000 electric and hybrid buses, 500,000 lakh electric three wheelers, 55,000 electric four wheeler passenger cars, and 1 million electric two wheelers.

Detailed explanation-3: -Fame India scheme is an incentive scheme that encourages the adoption of electric and hybrid vehicles. The full form of Fame India scheme is “Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India”.

Detailed explanation-4: -If you purchase a 4-wheeler EV, the maximum EV vehicle subsidy you can get is INR 1.5 Lakh if you are amongst the first 10,000 buyers. A scrapping incentive of up to INR 25,000, too, can be availed. In the case of 2-wheeler loan, you can get a subsidy of up to INR 10,000 for the first 10 Lakh buyers.

Detailed explanation-5: -Luring buyers to go for electric four-wheelers, the government provided a Purchase incentive of ₹10,000/kWh of battery capacity (up to ₹1,50,000/vehicle) for the first 1000 cars purchased (Delhi crossed the 1000-car mark in August 2021).