Abstract:

India is on the cusp of revolutionizing its mobility system. The government has devised a twofold approach through the Faster Adoption and Manufacturing of Electric Vehicles (FAME) Scheme, which aims to benefit Indian industry and citizens. This Scheme’s second phase offers $1.4 billion in incentives to spur electric vehicle (EV) growth in the country. The Government of India’s think tank, Niti Aayog, RMI India and Rocky Mountain Institute have jointly prepared a report that quantifies the energy and carbon savings that the vehicles eligible for FAME II will deliver over their lifetimes. Assuming all vehicles eligible for FAME II incentives are deployed, the net savings would be 5 million tons of oil equivalent (Mtoe) and 7 million tons of CO2.