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    FAME policy needs correction, says Naveen Munjal of Hero Electric

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    FAME policy needs correction, says Naveen Munjal of Hero Electric

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    The government launched the second phase of the FAME or Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in March 2019. 10 months on, SMEV or Society of Manufacturers of Electric Vehicles has called for a revamp of the scheme.

    The government launched the second phase of the FAME or Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in March 2019. 10 months on, SMEV or Society of Manufacturers of Electric Vehicles has called for a revamp of the scheme.
    Speaking to CNBC-TV18, Naveen Munjal, MD of Hero Electric and President of SMEV said that the government should take a relook at FAME as it only subsidises two-wheelers with higher range and as a result, a large chunk of the vehicles in the non-registered category have been left out.
    He also added that the current FAME policy has made electric two-wheelers more expensive.
    Speaking about his expectations from the budget, Munjal said that he hopes the government will focus on creating more awareness about electric vehicles and encourage banks to lend more capital to the electric vehicle manufacturers.
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