The government's decision to increase the scheme outlay of Faster Adoption and Manufacturing of Electric Vehicles (FAME) India Phase II has received praise from industry players. The Ministry of Heavy Industries announced the enhancement from Rs 10,000 crore to Rs 11,500 crore, aiming to boost clean mobility in the country. The extended fund will support electric two-wheelers, three-wheelers, and four-wheelers until March 31, 2024, or until the funds are exhausted. Industry leaders commend the move, stating it will improve infrastructure, drive widespread electric vehicle adoption, and contribute to the longevity of such vehicles.

The FAME India Phase II focuses on incentivizing the purchase of electric and hybrid vehicles, along with establishing essential charging infrastructure. The increased investment is seen as a significant boost for the electric vehicle industry, fostering growth and advancing India towards a cleaner, more sustainable future. The expansion of FAME II and the additional funding until March is viewed positively by industry experts, signaling India's commitment to electrifying its mobility landscape.

The move is expected to lower upfront costs for electric vehicles and encourage environmentally friendly travel, ultimately accelerating the shift towards a zero-emission future. As of February 2, 2024, the country boasts 12,146 operational EV charging stations, according to government data. The extension of FAME II with a substantial outlay is considered a positive step by industry insiders, reflecting India's dedication to promoting electric mobility.