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Increased incentives for electric 2-wheelers will help India meet Electrification targets faster

Electric two-wheelers can help save Rs 25,000 every year against the cost of those that run on internal  combustion engines. The central government's Department of Heavy Industry June 11, 2021 revised incentives linked with two-wheelers under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) incentive scheme: Incentive given to per kilo watt hour (kWh) battery capacity of vehicle models was increased and the maximum incentive that a vehicle model can receive was doubled. Before the change, electric two-wheelers were given a Rs 10,000 incentive per kWh, capped at 20 per cent of the vehicle cost. This was increased to Rs 15,000 per kWh, capped at 40 per cent of the vehicle cost. FAME II (the revised FAME scheme) in India has been incentivising electric vehicles (EV) since 2019. The scheme has managed to stimulate sales of over 76,000 vehicles in the last two years, amounting to more than Rs 221 crore total incentive, according to the live coun...
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