FAME II puts EV segment in fast lane by removing policy uncertainties: M&M

Mahindra & Mahindra (M&M) Friday said the FAME II scheme has removed policy uncertainty in the electric vehicles (EV) segment, a move that would encourage more manufacturers to launch environment friendly vehicles in the country. The Mumbai-based company, which is at the forefront of electric vehicle (EV) segment in the country, said the scheme puts electric vehicles in the fast lane. "With this initiative (FAME II scheme) which has been launched for three years, concerns regarding the long term policy in the segment have been settled," M&M Managing Director Pawan Goenka told PTI. Now, the industry is comfortable that for the next three years EV business will be supported, he added. "Therefore the OEMs (original equipment manufacturers) which are waiting and kind of watching will now probably come out and many more EVs could be launched in India," Goenka said. He added that the revised scheme is very clear on commercial use of EVs -- in shared mobility, buses, three ... Read more at: Source