FAME 2 Will Disappear Soon. How it’ll Impact the EV Market
H. Karan Kumar
Government is pushing the EVs away? This question was raised when Finance Minister Nirmala Sitharaman announced a budget with a significant subsidy reduction under the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. This move has sparked discussions about its impact on the EV market and the future of sustainable transportation in India.
In this article, we will delve into the details of the budget announcement, explore the implications of slashing FAME 2 subsidies by more than 44 per cent, and analyse the potential effects on EV buyers, manufacturers, and the overall industry.
The Budget Announcement
The budget didn’t discuss about the FAME III scheme, which was eagerly anticipated by the EV industry. Instead, the finance minister slashed the overall allocation for the FAME scheme by a significant 44 per cent. The expenditure budget for FAME in the next financial year is set at Rs 2671.33 crores, a substantial decrease from the current year’s allocation.
Implications for EV Buyers
E-Vehicle | Price with subsidy | Price without Subsidy |
Ola S1 Pro | 1,52,423 | 1,74,856 (+22,424) |
Ather 450X | 1,44,923 | 1,67,407 (+22,485) |
TVS IQube S | 1,40,025 | 1,62,090 (+22,065) |
Bajaj Chetak | 1,35,463 | 1,56,613 (+21,150) |
Nexon EV | 16,99,000 | 19,85,000 (+2,86,000) |
The reduction in FAME subsidies is expected to impact EV buyers, particularly those in the two-wheeler segment. Under the current FAME II guidelines, the government subsidizes Rs 10,000 per kilowatt-hour battery, with a maximum cap of 15 per cent of the electric two-wheeler’s ex-factory price. This subsidy has played a crucial role in making EVs more affordable for consumers.
Impact on EV Manufacturers
The reduction in FAME subsidies could also significantly impact EV manufacturers. The subsidies provided under the FAME scheme have been instrumental in encouraging manufacturers to invest in EV production and infrastructure. However, with the decrease in subsidies, manufacturers may face challenges sustaining their operations and maintaining competitive pricing.
The EV industry has advocated for increased allocation in the FAME scheme, as alternative support mechanisms, such as the production-linked incentive (PLI) scheme, have stringent conditions. The reduction in subsidies could potentially slow down the growth of the EV industry and hinder the government’s goal of transitioning to sustainable transportation.
Future Outlook for the EV Market
Despite the challenges posed by the reduction in FAME subsidies, the future outlook for the EV market in India remains promising. The government’s commitment to promoting sustainable transportation and reducing dependence on fossil fuels is a positive sign for the industry. The EV market has witnessed significant growth in recent years, which is expected to continue in the long term.
To ensure the sustained growth of the EV market, the government must revisit and revise the subsidy allocation under the FAME scheme. A comprehensive and robust support framework is essential to incentivize EV adoption, attract investment, and drive innovation in the sector.
Conclusion
The reduction in FAME 2 subsidies announced in the Interim Budget 2024 has raised concerns about the future of the EV market in India. The impact of this decision on EV buyers, manufacturers, and the overall industry remains to be seen. However, the government must evaluate alternative support mechanisms and foster an enabling environment for the growth of the EV market. By doing so, India can accelerate its transition towards sustainable transportation and contribute to a greener future.
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Bounce Infinity E1 Price, Range, Specs, & Features – 2024
H. Karan Kumar
Updated on Sept 19, 2023 | 6 min read
Bounce Infinity at a glance:
The Bounce Infinity E1 electric scooter is a compelling choice for eco-conscious commuters seeking a blend of style, performance, and affordability. With its sleek design, impressive range, and a host of smart features, the E1 promises a delightful riding experience in the urban jungle.
At the heart of the E1 lies a robust 2 kW motor that delivers a spirited 55 kmph top speed, ensuring you easily navigate city streets. The scooter’s 2.5kWh Li-ion battery boasts a remarkable range of up to 100 km, keeping you on the move without range anxiety. Moreover, the E1 features regenerative braking, which intelligently converts braking energy back into battery power, extending your range further.
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Bounce infinity specifications:
Bounce Infinity Dimensions:
| Kerb weight | 94kg |
| Load Capacity | – |
| Seat height | 780mm |
| Wheel-base | 1260mm |
| Ground clearance | 155mm |
Bounce Infinity Dimensions:
Kerb weight | 94kg |
Load Capacity | – |
Seat height | 780mm |
Wheel-base | 1260mm |
Ground clearance | 155mm |
Bounce infinity features
- Drive Modes: Eco, Power and Turbo,
- Cruise Control
- Turbo Mode with Hill Assist
- Over Temperature Audio Alarm
- Digital Console
- Smartphone app support
- Combi Brake System
- 12 L boot space.
- Regenerative Braking system
Bounce Infinity price and warranty:
With a 100km range and 55km/h top speed, this scooter comes among the average segment electric scooters. The Bounce Infinity E1 is priced at ₹1,12,999/- ex-showroom, but you don’t need to pay all upfront.
Now, Lease the Bounce E1 electric scooter for an easy monthly fee and enjoy perks like free maintenance, charging support, insurance, and much more.
Bounce Infinity E1 Warranty:
Bounce Infinity comes with the best-in-class warranty for both vehicle and battery. Vehicle alone comes with 3 yrs/40000* Kms, whichever comes first. Battery alone comes with 3yrs/45000* Kms, whichever comes first.
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How to book bounce infinity:
You can book the scooter by pre-booking it on the website and get it delivered by visiting the nearest Bounce Infinity showroom, but paying the full upfront cost is unnecessary. Now lease the Bounce Infinity electric scooter from Zecat and own the scooter for an easy monthly fee.
Here’s how to lease Bounce E1:
- Click on the button,
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