Electric Mobility Promotion Scheme 2024 to be extended: Heavy Industries Minister


PTI, Sep 9, 2024, 2:06 PM IST

New Delhi: The Electric Mobility Promotion Scheme 2024, that provides incentives to electric two-wheelers and three-wheelers, will be extended till FAME III is finalised, Union Minister HD Kumaraswamy said on Monday.

Speaking at the sidelines of the annual session of Automotive Components Manufacturers Association (ACMA), Kumaraswamy, the Minister of Heavy Industries said it will take some more time to finalise the third phase of the ‘Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle’ (FAME) scheme.

“It will be extended for another one or two months,” he said when asked if the Electric Mobility Promotion Scheme (EMPS), which is coming to an end this month, would be extended.

Asking the industry not to panic, he said “it will be extended till the FAME-III is announced.” The EMPS was launched in April and was extended till September 30.

It was announced in March this year, to be applicable from April 1 to July 31, with an outlay of Rs 500 crore. Later it was extended till September 30, with a total outlay of Rs 778 crore.

Under the scheme, a subsidy of up to Rs 10,000 per electric two-wheeler (e2W) and Rs 25,000 per electric three-wheeler (e3W) and up to Rs 50,000 on heavy e3Ws (autos and commercial units) are provided by the government.

On FAME III, he said whatever the lacuna seen in FAME II are sought to be corrected and its being worked out internally.

When asked how big would be the outlay for FAME III, Kumaraswamy said it will be announced in a “short period” without disclosing details.

He said the FAME III will see some modifications on FAME II, for which work is going on.

Addressing the session, the minister said that the government will continue to provide necessary support to ensure that India remains a global leader in manufacturing and innovation.

“Together we can build a future that not only strengthens our economy but also strengthens India’s place as a global leader in mobility components and advanced technology,” he added.

Speaking at the session, industry body CII President Sanjiv Puri stressed on the need for a collective effort between government, industry and academia for achieving the goal of Viksit Bharat by 2047 and to be globally competitive.

The auto industry has a significant role to play in it, he said while drawing attention to the need for skilling of the workforce to prepare for future needs besides focusing on innovation and building a sustainable supply chain to overcome the impact of global disruptions.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

MAHE to host 6th National Conference on modern library management

Kerala to be first state in country to collect, dispose of expired drugs

Smriti Irani ‘real agent’ of billionaire investor George Soros, alleges Cong; BJP hits back

Karnataka govt committed to implementing caste census report: Siddaramaiah

Karnataka Guv Gehlot summons budget session starting from Mar 3

No extension of Maha Kumbh: Prayagraj DM

RV Deshpande attends Maha Kumbh Mela with family, takes holy dip at Triveni Sangam

Related Articles More

Markets end marginally lower after a day’s breather amid foreign fund outflows

Tesla starts recruitment in India, sends signal of entering EV market

Karnataka Bank reverses cross border UPI transactions worth Rs 18.87 cr to customers

Campa partners with JioStar as ‘Co-Powered by’ sponsor on TATA IPL 2025

Experts intrigued by inclusion of electoral bonds in new Income Tax Bill

MUST WATCH

25 years old chat shop in Katapadi

Ashok Kumar Rai

Brahma Baidarkala Nemaotsava

Tea & Tales: A 10,000-Book Library Inside a Tea Shop!

Sri Goshala Bangalore

Latest Additions

MAHE to host 6th National Conference on modern library management

Kerala to be first state in country to collect, dispose of expired drugs

Smriti Irani ‘real agent’ of billionaire investor George Soros, alleges Cong; BJP hits back

Yellapur: Goods-laden truck plunges into gorge at dangerous turn near Balgaar Cross

Karnataka govt committed to implementing caste census report: Siddaramaiah

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.