What is the Fame 2 Subsidy on Electric Scooters?

The FAME 2 (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) subsidy is a significant initiative by the Indian government aimed at promoting the use of electric vehicles, including electric scooters. As part of the larger National Electric Mobility Mission Plan (NEMMP) 2020, the FAME 2 subsidy helps to make electric scooters more affordable by providing financial incentives to both manufacturers and consumers. 

Key Features of the FAME 2 Subsidy

Objectives

The primary objective of the FAME 2 subsidy is to encourage the faster adoption of electric and hybrid vehicles by reducing costs through government incentives. This initiative is crucial for reducing India's carbon footprint and tackling environmental issues. 

Financial Aid

Under the FAME 2 scheme, electric scooter manufacturers receive a subsidy that can be passed on to customers in the form of reduced prices. This leads to a substantial decrease in the overall cost of electric scooters, making them more competitive with traditional petrol-powered two-wheelers.

Eligibility

To qualify for the FAME 2 subsidy, electric scooters must meet specific criteria, including minimum range and maximum speed parameters, as well as a mandatory Energy Efficiency Services Limited (EESL) certification.

Benefits of the FAME 2 Subsidy

Cost-Effectiveness

By lowering the initial purchase price of electric scooters, the FAME 2 subsidy makes these eco-friendly vehicles more accessible to the general public. 

Environmental Impact

With increased adoption of electric scooters, the scheme aims to significantly reduce vehicular emissions, contributing to a cleaner and greener environment.

Economic Growth

The FAME 2 subsidy also supports the growth of the domestic electric vehicle industry, fostering job creation and technological innovation.

How to Avail the FAME 2 Subsidy

Consumers looking to benefit from the FAME 2 subsidy need to purchase a qualified electric scooter from an approved manufacturer. The subsidy is usually applied directly by the manufacturer, reducing the sale price at the point of purchase.

Conclusion

The FAME 2 subsidy on electric scooters is a crucial step towards a more sustainable future. By making electric scooters more affordable, this scheme not only supports environmental goals but also drives economic growth in the electric vehicle sector. For more information on eligible electric scooter models and how to claim the subsidy, consult with your local dealership or authorized sales agents.