- FAME stands for Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India.
- The FAME India scheme was launched in 2015 under National Electric Mobility Mission Plan (NEMMP).
- The limited domestic reserves of the conventional fuels and the rising demand in the automobile sector, are the main reasons to launch FAME India mission. So it is a alarming necessity to find an alternative sources of energy for transport which are eco-friendly as well as cost-effective.
- It is being administered by the Department of Heavy Industry.
- Its main aim is to promote eco-friendly vehicles in the country.
- Its main objectives is to provide tax and monetary incentives for adoption and market creation of both hybrid and electric technologies vehicles in the country.
- It will also support the hybrid or electric vehicles market development and its manufacturing eco-system in the country in order to achieve self-sustenance in stipulated period.
- It will provide demand incentives to electric and hybrid vehicles from two-wheeler to four-wheeler (e.g. buses, cars, etc.).
- The Phase 1 of the scheme was effective from April 2015 to March 2017.
- It had received 6-month extension till September 2017 end.
- Now FAME Mission has been extended by another six months up to March 31, 2018.
