NEWS COMMENTARY

India to invest $1.4 billion over three years to support its domestic EV industry

Published:
March 06, 2019
Coverage:
Owning the Energy Transition More...
Activities:
Investment More...
by Chloe Holzinger
Very important

Scheduled to launch in April 2019, this is the second iteration of India's Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program. Referred to as FAME-II, it increases India's EV industry investment more than tenfold. It also shifts the focus of the program toward public transportation and shared mobility, under the assumption that ICE vehicles used for ride-sharing services contribute more to emissions than personal vehicles; two-wheelers are exempted from this rule against personal use. Clients should view FAME-II as vital for bringing India's EV industry up to global standards and note the differences between India's policies to encourage EV adoption and China's policies, where car ownership is more common.

For the original news article, click here .


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