FAME-II Boosts Electric Vehicle Manufacturing in India
The Indian Government's FAME-II scheme has significantly boosted the electric vehicle industry, providing Rs.6,559 crore in incentives for EV manufacturers. This initiative increased EV adoption from 0.71% in 2019-20 to 7.50% in 2024-25, resulting in the sale of over 1.67 million vehicles and the installation of numerous charging stations, particularly in Karnataka. The scheme enhanced domestic manufacturing and supply chains through localized production mandates.
Source: Original Link