The Ministry of Heavy Industries has issued notices to several electric vehicle (EV) manufacturers, requesting that they provide documentation to support their claims in order to benefit from the INR 10,000 Cr Phase II of the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles scheme, also known as the FAME-II scheme.
The ministry is specifically interested in determining whether the components used in the vehicles produced by EV manufacturers are largely sourced locally. To qualify for the subsidy, EV companies must perform at least 50% of the total value added to an EV locally, lowering the final price to the end customer. Without active certification, EV models will no longer be eligible for government subsidies.
