The Society of Indian Automobile Manufacturers (SIAM) has warmly welcomed the announcement of the FAME II Scheme that was approved by the Cabinet Committee yesterday, late evening (28th February 2019). This will provide a big fillip to our joint efforts to introduce higher levels of Electric Mobility in the country said Mr Rajan Wadhera, President, SIAM.
For the last more than 2 years, the industry has been eagerly waiting for the announcement of a long term policy including the FAME II Scheme to be finalized. Industry would like to thank Government for announcing the second phase of FAME as well as for having continued the FAME I scheme during the interim period to ensure that continuity in the scheme was maintained.
The industry is poised to make huge investments in manufacturing EVs in all categories of vehicles and developing an indigenous supply chain to ensure Make in India. According to Mr Wadhera, the three-year Scheme with significantly enhanced financial allocations as reported, will instill tremendous confidence in the auto as well as in the component industry while taking long-term investment decisions in EV development and manufacture, with minimum risk.
As per our understanding, the FAME II will focus on EVs used for commercial applications and two/three wheelers and in creating the necessary infrastructure and ecosystem for EVs, which is a welcome move. While the details of the Scheme will be known shortly, the announcement of the Scheme, in itself, is a major milestone and augurs very positively for ushering clean and sustainable mobility in the country which the industry and SIAM will fully support
said Mr Wadhera.
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