While purchasing an e-2W whose vehicle model name is present in active list of two wheelers, you must ensure that Fame 2 Subsidy amount is deducted from the asked original price of electric 2 wheeler by the manufacturer company. The FAME India Scheme is a government subsidy scheme under the National Electric Mobility Mission Plan (NEMMP) and stands for Faster Adoption and Manufacturing of Electric Vehicles in India.
Fame 2 Subsidy in Union Budget 2024-2025
On 1 February 2024, Finance Minister presented Interim Union Budget 2024-2025. There was no mention FAME III scheme in the budget 2024 speech, however, the Finance Minister said that the government will push for EV manufacturing and the development of charging infra. She said "As India moves towards its net zero emission target by 2070, the Government will work towards expanding and strengthening the EV ecosystem as well as develop the charging infrastructure".
She even mentioned that the government will also be transitioning most of the public transport, such as buses, to EVs. "Our govt will expand the e-vehicles and will push for greater adoption of electric public transports like buses with formal payment mechanism," Sitharaman said.
Reduction in Amount under Fame II Subsidy Scheme
Central government has reduced budget allocation to FAME subsidy by 44% to Rs. 2,671 crore for FY2025. While the FAME subsidy is decreased, the Production Linked Incentive Scheme for automobiles and auto components (Auto PLI) has increased by a whopping 623% to Rs. 3,500 crore. Union govt. has reduced the budget allocation for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by nearly 44% to Rs. 2,671 crore for FY25, which may result in a slowdown in the adoption of electric vehicles in India.
In FY24, the government allocated a revised estimate of nearly Rs. 4,807 crore for FAME schemes, according to the government's budget allocation document published on February 1st. The Ministry of Heavy Industries was allocated a budget of Rs. 5,127 crore for the last financial year, marking the highest allocation since the inception of the Rs. 10,000-crore FAME scheme in 2019.
The electric vehicle (EV) two-wheeler industry was pinning hopes on a strong push for green mobility through EV incentives like the Fame III scheme and more capex allocation for research and development and charging infra for EVs.
While the FAME Subsidy has decreased, the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components has increased by a whopping 623 percent, according to the budget estimate document. This move is likely to benefit EV's two-wheeler industry as well. To be sure, Ola Electric, last week said it has received a domestic value addition certificate under the production-linked incentive scheme for the automobile and auto component industry.
January 2024 Update on Fame 2 Subsidy Scheme
Finance ministry has approved an additional Rs. 1500 crore for Fame 2 Subsidy Scheme 2024. This is done because central govt. has already utilised Rs. 8948 crore of the total Rs. 10,000 crore allocated for Fame II scheme till 26 December 2023. A proposal to inrease the outlay for FAME-II from Rs 10,000 crore to Rs. 11,500 crore was approved by the department of expenditure (DoE) on 2 January 2024. With this additional allocation, govt. address the fears that funds could run out before the scheme ends on 31 March 2024 due to robust electric vehicles (EV) sales.
By injecting supplementary funds, the government has raised its vehicle support objectives for all categories except buses. The target to support the number of vehicles was raised from 1.56 million to 1.74 million. The target for electric two-wheelers (e2Ws) was raised by 50 per cent to 1.55 million, while for e3Ws it was reduced by 68 per cent to 155,536. It was reduced for e4W by 13 per cent to 30,461. The target for buses was increased to 7262 units from 7090.
EV sales this year have witnessed a robust increase of over 45% in 2023, notwithstanding the subsidy cuts and regulatory shifts. Total EV registration figure in 2023 touched 1.5 million units, significantly higher than last year’s score of a little over 1 million. EV penetration in the country increased to 6.3% in 2023 against 4.8% in 2022. The country has seen EV sales exceed 1 million for two consecutive years. In 2024, the industry anticipates that sales of e2Ws alone will surpass the one-million mark.
Active Fame 2 Subsidy for Two Wheeler List (e-2W)
All the Registered OEMs Under FAME INDIA II Scheme are advised to get their vehicle Models Certified as per AIS 156 under CMVR as amended from time to time , in order to be eligible to Claim Subsidy under FAME INDIA II Scheme. Here we are presenting the complete list of electric two wheelers for which fame 2 subsidy is active. This list has xEV model name, vehicle CMVR category, and incentive amount in order of sequence.
Kinetic Green Energy & Power Solutions Ltd
- Zing HSS - L1 - 51000
- E LUNA - L1 - 20000
- ZULU - L1 - 21000
Ather Energy Pvt. Ltd.
- Ather 450 X - L2 - 29000
- Ather 450X (with Pro Pack) - L2 - 55500
- Ather 450X LR - L2 - 21489
- Ather 450S LR - L2 - 21041
- Ather 450X HR - L2 - 22485
Jitendra New Ev Tech Pvt. Ltd.
- JMT1000HS - L1 - 19754
- JMT 1000 HS CARGO - L1 - 19720
- JMT 1000 HS PLUS - L1 - 60000
- JMT 1000 3K - L1 - 48000
- JMT 1000 HS - L1 - 15020
Tvs Motor Company Limited
- TVS iQUBE ELECTRIC - L2 - 22500
- TVS iQUBE ELECTRIC SMARTXONNECT - L2 - 51000
- TVS iQUBE ELECTRIC S - L2 - 51000
- TVS iQube electricS - L2 - 22065
- TVS iQUBE ELECTRICSMARTXONNECT - L2 - 21131
Bajaj Auto Ltd
- CHETAK 2403 Urbane - L2 - 45000
- Chetak 2413 Premium - L2 - 43500
- CHETAK 2443 Urbane - L2 - 17897
Kabira Mobility Llp
- KM 3000 - L2 - 42000
- KM 4000 - L2 - 42000
Ola Electric Technologies Private Limited
- Ola S1 (E2W-AC-04) - L2 - 44700
- Ola S1 Pro (E2W-AB-04) - L2 - 59550
- Ola S1 (E2W-AC-04) - L2 - 21916
- Ola S1 Air - L2 - 18305
- Ola S1 Pro (Gen 2) - L2 - 22424
- Ola S1 X+ - L2 - 16780
Lectrix Ev Pvt.ltd.
- ecity zipD40 - L1 - 30000
- ecity zipC40 - L1 - 30000
- ecity zipCE40 - L1 - 28500
- LXS - L1 - 30000
- LX G 2.0 - L1 - 15605
Maruthisan Private Limited
MS 3.0 - L2 - 43200
Okaya Ev Pvt Ltd
- FAAST F4 - L1 - 66000
- FAAST F2B - L1 - 33000
- FAAST F2T - L1 - 33000
- FAASTF4 - L1 - 66000
- FAASTF2B - L1 - 33000
- FAASTF2T - L1 - 33000
- FAAST F3 - L1 - 52500
- Faast F4S - L1 - 66000
- Faast F4 - L1 - 66000
- Faast F2T - L1 - 33000
- Faast F2B - L1 - 33000
- Faast F4S - L1 - 66000
- Faast F3 - L1 - 52500
- Faast F3 - L1 - 52500
- FAAST_F4 - L1 - 22500
- FAAST_F3 - L1 - 21000
- FAAST_F2B - L1 - 17250
- FAAST_F2T - L1 - 17100
- FAAST-F2B - L1 - 17250
- FAAST-F2T - L1 - 17100
- Faast-F4 - L1 - 21290
- Faast-F3 - L1 - 19957
- Faast- F2B - L1 - 15783
- Faast- F2T - L1 - 15692
Bgauss Auto Pvt.ltd
- BGAUSS D15 PRO - L1 - 48000
- BGAUSS D15 i - L1 - 48000
- C12i Max - L1 - 48000
- C 12i Ex - L1 - 16214
Battre Electric Mobility Pvt Ltd
Stor:ie - L1 - 46500
Twenty Two Motors Private Limited
e.1 - L1 - 28500
Altius Ev Tech Pvt Ltd
Crown - L1 - 53000
Chetak Technology Limited
Chetak 2423 Premium - L2 - 43500
Hero Motocorp Limited
- VIDA V1 Plus - L2 - 51000
- VIDA V1 Pro - L2 - 60000
Tork Motors Pvt Ltd
KRATOS-R - L2 - 60000
Sokudo Electric India Pvt Ltd
- ACUTE - L1 - 46500
- ACUTE 2.2 - L1 - 33000
- Acute. - L1 - 22500
- Acute 2.2. - L1 - 20162
- Acute.. - L1 - 18829
- Acute 2.2.. - L1 - 15969
Electric 2 Wheeler Vehicle List - Fame 2 Subsidy (Expired)
We are hereby presenting the list of electric 2 wheelers on which govt. earlier provided subsidy and now fame 2 subsidy on that vehicle model has expired.
Ather Energy Pvt. Ltd.
- ATHER 450 - L2 - 27000
- Ather 450 - L2 - 26732
Jitendra New Ev Tech Pvt. Ltd.
JMT 1000 48V - L1 - 22000
Li-ions Elektrik Solutions Pvt Ltd
SPOCK - L1 - 27465
Tunwal E-motors Pvt. Ltd.
- T 133 - L1 - 24000
- Storm ZX Plus - L1 - 24000
- TEM G33 - L1 - 24000
- RomaS - L1 - 24000
- TZ 3.3 - L1 - 28800
Bajaj Auto Ltd
CHETAK 2403 Premium - L2 - 45000
Kabira Mobility Llp
- Intercity 300 - L1 - 42300
- Intercity 350 - L1 - 42300
- Hermes 75 - L1 - 42300
Microcon I2i Private Limited
Anav12 - L1 - 30000
Booma Innovative Transport Solutions Pvt Ltd
ANAV1200 - L1 - 30000
Model / OEM under FAME Scheme
Link to check Electric Two Wheeler model eligible under Fame 2 Subsidy Scheme of central government - https://fame2.heavyindustries.gov.in/ModelUnderFame.aspx. On clicking this link, page to search electric vehicle model eligible for Fame 2 subsidy will open.
Similarly, you can check OEM and Dealers under FAME Scheme through the link - https://fame2.heavyindustries.gov.in/content/english/20_1_OEM.aspx
Note that only advanced battery and registered vehicles will be incentivized under the Fame 2 Subsidy scheme. With greater emphasis on providing affordable & environment friendly public transportation options for the masses, scheme will be applicable mainly to vehicles used for public transport or those registered for commercial purposes.
Official website - https://fame2.heavyindustries.gov.in/
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