India’s push for electric vehicles (EVs) was renewed when phase-II of the Faster Adoption and Manufacturing of (Hybrid and) Electric (FAME) Vehicles scheme in India, with an outlay of ₹10,000 crore, was approved in 2019. This was significant since phase-I, launched in 2015, was approved with an outlay of ₹895 crore. India was doubling down on its EV ambitions, focusing on cultivating demand for EVs at home while also developing its own indigenous EV manufacturing industry which could cater to this demand.
Initially envisioned for three years, FAME-II got a two-year extension in June 2021 owing to a number of factors including the pandemic. It aims to support 10 lakh e-two-wheelers, 5 lakh e-three-wheelers, 55,000 e-four-wheeler passenger cars and 7,000 e-buses. Three years into FAME-II, the numbers have been lagging far behind the original three-year target. As a part of FAME-II, the government has made a push for indigenous manufacturing with a number of automakers answering the call. Legacy auto manufacturers such as Tata Motors, Mahindra & Mahindra, Hero Electric, and TVS unveiled their EV offerings. New EV players also emerged on the scene with the likes of Ola and Bounce entering the e-two-wheeler segment. While e-two-wheelers and e-four-wheelers receive significant coverage, a three-wheeled underdog has been quietly dominating the Indian EV space.
