Low penetration underscores India’s need to continue FAME beyond 2024 for at least another three years, industry officials said.
The subsidies extended under the second edition of the Faster Adoption and Manufacturing of Electric vehicles (FAME II) scheme can be described as fiscal steroids on wheels for an undernourished electric vehicle (EV) industry.
As EV consumers Zypp Electric Co-founder Akash Gupta and software veteran S Shankar share a passion for a cleaner environment. Gupta plans to add thousands of electric two-wheelers (E2Ws) to manage deliveries for clients; Shankar and his son plan to change their Internal Combustion Engine (ICE) car and two-wheelers (2Ws) to all-electric.
Underpinning Gupta and Shankar’s purchase decisions are Prime Minister Narendra Modi’s Rs 10,000-crore largesse, which translates into a huge Rs 3.5 crore in monthly savings for Zypp, given that the start-up deploys 1,000 bikes
First Published: Oct 04 2022 | 7:05 PM IST