Okinawa Autotech has announced that its electric two-wheelers have received FAME-II approval and the incentivization. The company has received a certificate of eligibility for its Lithium-ion products – I-Praise and Ridge+ from the Automotive Research Association of India (ARAI). The subsidy for the Ridge+ and i-Praise electric scooters will range between INR 17,000 – INR 26,000 based on kWh.
Speaking about the approval FAME-II approval, Jeetender Sharma, Founder & Managing Director, Okinawa Autotech, said:
With eligibility under Fame-II, our customers will be able to enjoy standard subsidy depending upon the model battery kwh. For Okinawa Ridge+ & i-Praise the subsidy would be between INR 17,000 – INR 26,000 based on KWH. We are confident that this will motivate more environment conscious customers to become a part of the Okinawa family to enjoy not only the benefits of e-scooters but also the advanced features offered in the Okinawa range.
FAME-II states that the electric vehicle makers need to have 50% local content in e-vehicles to avail the incentive. The parameters include a top speed of 40km/h and a range of 80 km/charge as well.
Sharma further added:
Our vision has always been aligned with the Government of India. With the thought process to provide the consumer with the ‘Make in India’ product we started working initially on localization of our electric two-wheeler components which helped us in getting the FAME-II approval. Our vision stands validated today and we would like to thank Government for setting parameters that enable the Indian consumers to get high quality products that are made in India.
A CRISIL report from last month claimed that 95% of electric scooters would not be eligible for FAME-II incentive after the Ministry of Heavy Industry and Public Enterprise laid the new eligibility criteria on 28 March 2019.
FAME-II scheme has a more significant allocation than the FAME-I. The old plan had an outlay of INR 895 crore. The FAME-II scheme, on the other hand, is an INR 10,000-crore programme. Do note that about 85% of the outlay would be as a demand incentive applicable to passenger vehicles, buses and 3-wheelers registered for commercial use and public transport.