Looking to cover 20 lakh vehicles in phase II of FAME scheme, says Amitabh Kant of NITI Aayog

The cabinet approved Rs 10,000 crore package for the second phase of Faster Adoption & Manufacturing of Electric (and hybrid) vehicles (FAME) scheme on February 28. Amitabh Kant, CEO of NITI Aayog, shared his views on the development.

“Our long-term objective is that when we push for disruption, when we push for electric manufacturing both the component and battery manufacturing must take place in India and that’s the objective,” Kant told CNBC-TV18 on Friday.

Talking about the policy objectives, Kant said, “In India two-wheelers and three-wheelers account for almost 82 percent of the total vehicle in India and therefore, our challenge is that these 85 percent vehicles which contribute about 35 percent of the CO2 (carbon dioxide) emission, we push for their manufacturing and their electrification in India.”

He further said that they are looking to cover 20 lakh vehicles under FAME-II.

According to him, subsidy for electric, hybrid vehicles will be between Rs 20,000 and Rs 30,000 per vehicle under FAME-II.