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

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

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

Asking industry not to panic, he said "it will be extended till FAME-III is announced."

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 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 government.

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

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

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

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

"Toger we can build a future that not only strengns our economy but also strengns India's place as a global leer in mobility components and vanced technology," he ded.

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

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