SMEV asks for Rs 3,000 crore Rehab fund for EV

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VIVO v29 lite Specification: Amazing Detailed Review

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RGAVP

SMEV asks for Rs 3,000 crore Rehab fund for EV

RGAVP

Express Mobility and SMEV have asked the government to provide a Rs 3,000 crore rehabilitation fund for electric vehicle (EV) manufacturers affected by the FAME II subsidy block.

RGAVP

The FAME II scheme was launched in 2019 with an outlay of Rs 10,000 crore to promote the adoption of electric vehicles in India.

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RGAVP

However, the government has blocked the subsidy for new EV models since March 2022, citing a lack of funds.

RGAVP

This has led to a slowdown in the EV industry, with several manufacturers halting production or laying off employees.

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Express Mobility and SMEV have said that the rehabilitation fund will help EV manufacturers to tide over the current crisis and resume production.

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RGAVP

They have also urged the government to extend the FAME II scheme by another two years and increase the outlay to Rs 20,000 crore.

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The government is yet to take a decision on the demands of Express Mobility and SMEV.

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However, the slowdown in the EV industry is a cause for concern, as it could hamper India's efforts to reduce its dependence on fossil fuels.

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RGAVP

The government needs to take steps to revive the EV industry and ensure that India remains on track to achieve its ambitious target of 30% electric vehicles by 2030.

RGAVP

The rehabilitation fund proposed by Express Mobility and SMEV is a good start, but the government needs to do more to support the EV industry.

VIVO v29 lite Specification: Amazing Detailed Review

VIVO v29 lite Specification: Amazing Detailed Review

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