Industry experts are calling for a more customer-centric approach to the scheme’s implementation, with benefits shared directly with end-users rather than original equipment manufacturers (OEMs). The EV sector is hopeful about a slew of sops that will foster a conducive environment for the growth of electric mobility in India.
Amit Raj Singh, Founder and MD of Gemopai, an electric scooter company hopes the Government will extend the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) scheme beyond 2024 and offer attractive interest rates to financial institutions to promote EV funding. “The companies are also suggesting lowering the goods and services tax on batteries to 5 per cent to make EVs more affordable for customers. “This will further stimulate the increased adoption of EVs in the country,” says Singh.
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