- FAME III could be discussed in budget 2024
- Rs. 10,000 crore could be allotted for FAME III
- Could help in boosting electric vehicle sales
Since the FAME II and state subsidies have expired, electric two-wheeler prices have increased substantially. While brands have launched affordable variants of their flagship products to tackle this price bump, the same also comes at the cost of low range, fewer features and an overall dulled-down package.
But, it seems that the FAME subsidy could come back at the budget 2024. Moreover, rumour has it, that a set amount of Rs. 10,000 could be allotted for the FAME III. If the subsidy does come to fruition, it will bring ease to potential EV buyers looking for affordable means of daily commute when fuel prices are soaring.
As of now, the Indian electric two-wheeler market only benefits from the EMPS. It gives a benefit of Rs. 10,000 to the electric two-wheelers. However, the said scheme is only valid till 31 July 2024. But the budget 2024 will be hosted in the next few days, so there should be more clarity on the introduction of FAME III soon.
However, if you are looking to purchase an electric scooter now as well, here are the three most affordable options that you can take a look at.
