The Indian government is set to launch the FAME III (Faster Adoption and Manufacturing of Electric Vehicles) policy with a projected outlay of ₹20,000 crore — more than double the FAME II budget. Here's a deep dive into what this means for EV buyers.
Under the proposed scheme, subsidies of up to ₹15,000 per two-wheeler and ₹5 lakh per electric bus will be available. Crucially, the policy links subsidies to domestic manufacturing components, pushing brands to source locally.
