SIAM welcomes FAME II scheme

The Society of Indian Automobile Manufacturers (SIAM) has welcomed the announcement of the FAME II Scheme, approved by the Cabinet Committee in India, on February 28, 2019. This will provide a big fillip to our joint efforts to introduce higher levels of Electric Mobility in the country said Rajan Wadhera, President, SIAM.

For more than two years, the industry has been eagerly waiting for the announcement of a long term policy including the FAME II Scheme to be finalised. The industryy 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, SIAM observed.

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.

“The three-year Scheme with significantly enhanced financial allocations will instil 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. 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. It augurs very positively for ushering clean and sustainable mobility in the country which the industry and SIAM will fully support,” said Wadhera.

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