{"id":1240978,"date":"2022-12-23T10:29:19","date_gmt":"2022-12-23T04:59:19","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1240978"},"modified":"2022-12-23T10:29:54","modified_gmt":"2022-12-23T04:59:54","slug":"boom-in-electric-vehicle-sales-in-india-800-increase-in-ev-sales-reported-in-3-years","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/boom-in-electric-vehicle-sales-in-india-800-increase-in-ev-sales-reported-in-3-years\/","title":{"rendered":"Boom In Electric Vehicle Sales In India: 800% Increase In EV Sales Reported In 3 Years"},"content":{"rendered":"\n

India is witnessing a surge in the sales of electric vehicles<\/a> (EVs) in the last two years. <\/p>\n\n\n\n

Spike In EV Sales In Country <\/strong><\/p>\n\n\n\n

\"Boom<\/figure>\n\n\n\n

Coming to numbers, over 48,179 EVs were sold in 2020-21.<\/p>\n\n\n\n

The figures further grew \u00a0to 2,37,811 in 2021-22 and 4,42,901 in 2022-23 (till December 9).<\/p>\n\n\n\n

On Tuesday, the Minister of Heavy Industries, Mahendra Nath Pandey said the ministry has implemented a scheme titled \u2018Faster Adoption and Manufacturing of Electric Vehicles in India Phase II\u2019 (FAME India Phase II) to promote adoption of electric\/hybrid vehicles in the country, in a written reply in the Lok Sabha.<\/p>\n\n\n\n

So now they are in the process of implementing the Phase-II of the FAME India scheme which is being implemented for a period of five years from April 1, 2019.<\/p>\n\n\n\n

 A total budgetary support of Rs 10,000 crore is allocated to this project.<\/p>\n\n\n\n

Faster Adoption and Manufacturing of Electric Vehicles in India Phase II<\/strong><\/h2>\n\n\n\n

In this phase, the ministry is focusing on supporting electrification of public and shared transportation through subsidies for 10 lakh e-two-wheelers (e-2Ws), 5 Lakh e-three-wheelers (e-3Ws), 55,000 e-four-wheeler (e-4Ws) passenger cars, and 7090 e-buses.<\/p>\n\n\n\n

In total, 64 original equipment manufacturers (OEMs) of electric vehicles have been registered as of December 9.<\/p>\n\n\n\n

 The reply mentions that over 7.47 Lakh EVs under FAME India Phase II have been sold.<\/p>\n\n\n\n

As part of the FAME India Phase-II, demand incentive\/subsidy is given to consumers (buyers\/end users) in the form of an upfront reduced purchase price of hybrid and electric vehicles.<\/p>\n\n\n\n

This would help to enable  wider adoption, which is reimbursed to the OEMs by the government of India.<\/p>\n\n\n\n

Further, Pandey said that the ministry has received complaints regarding misappropriation of subsidies under FAME India Phase II by some EV manufacturers.<\/p>\n\n\n\n

Basically, these complaints are mainly related to violation of the phased manufacturing programme (PMP) guidelines under FAME India Phase II.<\/p>\n\n\n\n

The reply mentions that all the complaint cases have been referred to the testing agencies for re-verification.<\/p>\n\n\n\n

In response, the models of these two OEMs have been suspended from the FAME scheme, after examination of reports in respect of two OEMs.<\/p>\n\n\n\n

The reply noted, the processing of their pending claims has been stopped till they submit sufficient evidence to show their compliance to PMP timelines.<\/p>\n\n\n\n

Basically, the FAME India scheme is demand driven as It helps in demand generation of EVs by way of reducing the cost of acquisition of such vehicles. <\/p>\n\n\n\n

So, if the demand for EVs increases, the pace of implementation of FAME India also goes up.<\/p>\n","protected":false},"excerpt":{"rendered":"

India is witnessing a surge in the sales of electric vehicles (EVs) in the last two years.  Spike In EV Sales In Country  Coming to numbers, over 48,179 EVs were sold in 2020-21. The figures further grew \u00a0to 2,37,811 in 2021-22 and 4,42,901 in 2022-23 (till December 9). On Tuesday, the Minister of Heavy Industries, […]<\/p>\n","protected":false},"author":27,"featured_media":1240995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[124],"tags":[315,316],"class_list":["post-1240978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automobile","tag-electric-vehicle-sales","tag-ev-sales"],"acf":[],"yoast_head":"\nBoom In Electric Vehicle Sales In India: 800% Increase In EV Sales Reported In 3 Years - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/boom-in-electric-vehicle-sales-in-india-800-increase-in-ev-sales-reported-in-3-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boom In Electric Vehicle Sales In India: 800% Increase In EV Sales Reported In 3 Years - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"India is witnessing a surge in the sales of electric vehicles (EVs) in the last two years.  Spike In EV Sales In Country  Coming to numbers, over 48,179 EVs were sold in 2020-21. 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