India EV Segment Gains Traction

The EV segment in India is continuing to grow with additional government support. In July of this year, the government partially modified the Faster Adoption and Manufacturing of Electric Vehicles (FAME) in India Phase II. It has included an additional demand incentive for electric two-wheelers to ₹15,000 per KWh from an earlier uniform subsidy of ₹10,000 per KWh for all EVs, including plug-in hybrids and strong hybrids except buses.
This decision will increase the subsidy for such vehicles by 50% under the FAME II scheme and be a game-changer in adopting EVs.
Such moves from the government will boost faster adoption of EVs. Furthermore, with this kind of solid support, OEMs will also take a step forward to accelerate the mass adoption of EV.