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Centre Seeks Stricter Component Localisation Norms For EVs Under FAME-III
Inc42
·
1y ago
Medial
The Ministry of Heavy Industries (MHI) is considering reducing the number of components eligible under the Production-Linked Incentive (PLI) scheme for electric vehicles (EVs). The ministry clarified that local suppliers who import finished parts will not qualify for PLI and the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME-III) scheme. EV manufacturers are also concerned about the mandatory requirement for domestic printed circuit board manufacturing across components.
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Related News
Centre Tightens Localisation Norms For EV Component Suppliers
Inc42
·
10m ago
Medial
- Centre tightens localisation norms for EV manufacturers under PM E-DRIVE scheme - Beneficiaries of the EV promotion scheme must disclose component source and inform MHI of any changes - Testing agencies granted rights to inspect premises of EV component suppliers - Stricter rules and regulations to ensure transparency in the subsidy program - Measures taken to prevent misuse of subsidies and ensure quality in EV manufacturing
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FAME-III Subsidy: Centre To Penalise EV OEMs If Localisation Norms Flouted
Inc42
·
1y ago
Medial
EV companies seeking subsidies under FAME-III will need to pass a twice-yearly techno-commercial audit to ensure compliance with localisation guidelines. Non-compliance will require companies to refund subsidies with interest at a higher rate than the marginal cost of funds-based lending rate. The FAME-III scheme, expected to have an INR 10,000 crore outlay, will likely be announced in the upcoming budget.
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Smaller EV players nearly wiped out as FAME-II crackdown triggers sales collapse - The Economic Times
Economic Times
·
25d ago
Medial
A government crackdown on electric two-wheeler makers for violating FAME-II subsidy norms led to a significant market shake-up, severely impacting smaller companies. While companies like Hero Electric faced insolvency and others like Okinawa Autotech and Ampere Vehicles saw drastic sales drops, larger firms such as TVS and Bajaj have benefited. New policy initiatives, like the anticipated FAME-III, aim to support compliant manufacturers and strengthen the shift towards electric mobility with stricter guidelines.
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FAME III Unlikely To Be Feature In Union Budget
Inc42
·
1y ago
Medial
The Centre is working on the FAME-III scheme to promote electric vehicle adoption in India, according to HD Kumaraswamy. The reduction of taxation on hybrid vehicles is still being considered, with PM Narendra Modi having the final say. The FAME-III scheme is expected to have a budget of INR 10,000 Cr and will be announced in the Union Budget.
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Microsoft outage: Ola’s Bhavish Aggarwal bats for stringent data localisation norms
Economic Times
·
1y ago
Medial
Ola founder Bhavish Aggarwal has called for stricter data localisation norms in India, following Microsoft's global outage. Aggarwal argued that India's data residing globally poses a risk and that the government should take action to address it. He has been a vocal advocate for Made-in-India technologies and has migrated Ola's services away from foreign companies like Google and Microsoft. The recent Microsoft outage impacted various industries globally, and while the underlying cause has been fixed, the cybersecurity outages continue to affect some customers.
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Emobility Startup ZEVO Nets $2 Mn From BizDateUp, Others
Inc42
·
10m ago
Medial
- New Delhi-based startup secures funding for technological upgrades and expansion - Plans to deploy over 5,000 electric vehicles across key locations - Focuses on expanding to new cities and strengthening presence in Tier II and III cities - Aims to provide sustainable mobility solutions to a larger audience - Previously received subsidies under the FAME scheme for EV makers - The FAME scheme expired in 2024
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Govt working on FAME III, implementation expected in near future: HDKumaraswamy
YourStory
·
1y ago
Medial
The Indian government is working on implementing the FAME III scheme, which aims to promote and support electric mobility in the country. The Minister for Heavy Industries and Steel, HD Kumaraswamy, mentioned that preparations are underway and various ministries have recommended how to implement the program. However, FAME III is not expected to be announced in the upcoming Union Budget. The government is also considering a reduction in taxes on hybrid vehicles, which will be discussed under the leadership of Prime Minister Narendra Modi. The Minister further emphasized the importance of preparing the workforce for electric mobility to achieve India's ambitious goals.
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Will FAME-II Violation Blow Hero Electric, Okinawa And Benling India Off The EV Highway?
Inc42
·
1y ago
Medial
The Indian government is focusing on developing a low-carbon economy, with the growth of electric vehicles (EVs) as a key component. However, there are challenges in the EV industry, including the reliance on imported components. The Ministry of Heavy Industries (MHI) recently revoked subsidies offered to EV manufacturers who were found to have imported a significant portion of their components. This decision has affected thousands of people, including vendors and dealerships. Despite this setback, the government remains committed to promoting domestic manufacturing of EVs through schemes like FAME and EMPS.
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Centre Considering Outlay Of INR 11K Cr For FAME-III, Sops For E-Buses & E-Rickshaws
Inc42
·
11m ago
Medial
The Indian government is planning to expand the FAME-III scheme, which aims to provide subsidies for electric vehicles. The proposed scheme will now include electric buses, autorickshaws, ambulances, police vehicles, and two-wheelers. The government is considering an outlay of INR 11,000 crore for the scheme. This announcement comes following a statement by union minister H. D. Kumaraswamy that the FAME-III subsidy scheme will be launched in the next two months.
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Karnataka To Offer Incentives To Further EV Adoption
Inc42
·
10m ago
Medial
The Karnataka state government is planning to provide incentives to electric vehicle (EV) manufacturers, battery component makers, and charging gear manufacturers. These incentives could reach up to 25% on capital investments. In addition, the government is considering waiving road tax and registration charges for hybrid vehicles as part of its clean mobility drive. This initiative aligns with the recent clearance of the PM E-DRIVE Scheme by the union cabinet, which aims to promote the use of EVs and replace the existing FAME-II scheme.
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