Hyundai believes that “more clarity is needed” on India’s electric vehicles policy framework for its “right implementation”, reports the Economic Times. SS Kim, MD, Hyundai Motor India said that while India’s push towards electric mobility is a “step in the right direction”, his company is still unsure if the government’s plans for EVs were “officially announced”. The government tweaked its FAME (Faster Adoption of Manufacturing of (Hybrid &) Electric Vehicles) scheme - which currently is the only official policy document that talks exhaustively of EV subsidies and incentives - in March this year. The scheme was initially announced in 2015, and its second phase 'FAME II' has been in effect since April this year after being announced in March. Mint reported last year that the government had dropped the idea on an standalone policy on EVs. FAME II – the only EV related govt scheme The salient features of Phase-II of the FAME India Scheme, called the FAME II, was announced in first week of March 2019, which proposes to give a push to electric vehicles (EVs) in public transport and seeks to encourage adoption of EVs by way of market creation and demand aggregation. The total outlay of for FAME I, was around Rs. 795-895 Crore and the total fund requirement for FAME II is Rs 10,000 Crore over three years from 2019-20 to 2021-22, supporting 10 Lakh electric two-wheelers, 5 Lakh three-wheelers, 55,000 commercial/fleet electric cars and 7000 electric buses. In FAME-II, the government made a significant departure…
