Government extends subsidies under Electric Mobility Promotion Scheme until FAME launch
Electric Mobility Promotion Scheme (EMPS) till the launch of the third edition of its flagship incentive scheme FAME (Faster Adoption and Manufacturing of Electric Vehicles), Union Minister for Heavy Industries H D Kumaraswamy Monday said.
EMPS was scheduled to be in force till Sep 30. But the announcement for benefits to support adoption of e-mobility is likely to take another two months, Kumaraswamy said recently, necessitating an extension.
“It will be extended till FAME comes,” Kumaraswamy said at the 64th Annual Session of the Automotive Component Manufacturers’ Association (ACMA).
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This will be the second extension for the EMPS, which was initially launched for four months from April 1 to July 31, with an outlay of Rs 500 crore. The scheme was extended by two months ahead of its initial deadline, with an additional allocation of Rs 278 crore. Under the scheme, electric vehicle (EV) buyers can get a subsidy up to Rs 10,000 per two-wheeler and Rs 50,000 per three-wheeler. Companies sell the locally made vehicles at a discount to buyers and later claim subsidies from the Ministry of Heavy Industries.
Last week, Kumaraswamy had indicated that FAME-III would be launched within the next two months. “The government is unwaveringly committed to advancing India’s EV ecosystem with a focus on fostering local manufacturing and sustainable growth. FAME-III will be rolled out within two months,” he had said.
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