The Electric Mobility Promotion Scheme (EMPS) will be extended beyond its scheduled end in September, Union Minister for Heavy Industries HD Kumaraswamy said at an event on September 9.
This extension will be till the launch of the third phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme, Kumaraswamy said at ACMA annual convention. The Minister added that Centre is looking to address the challenges faced by the FAME II scheme with the next round of the subsidy scheme, thus there has been a gap between the current EMPS scheme and the implementation of the FAME III programme.
"In a short period, you will receive all of the information", HD Kumaraswamy said on the sidelines of the Automotive Component Manufacturers Association (ACMA) convention.
The extension was necessitated as FAME III, a more comprehensive and long-term policy for the EV industry, was yet to be finalised by the government, a source told Moneycontrol, on condition of anonymity.
The EMPS scheme was originally meant to run between April to July 2024, with a total outlay of Rs 500 crore. The scheme had been extended by two more months in July, and this will be the second extension of the EMPS.
EMPS is meant to provide a short-term support for the electric vehicle (EV) sector, after the expiry of the FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme.
Ministry of Heavy Industries had in March launched the Electric Mobility Promotion Scheme (EMPS) 2024 to further boost the development of electric vehicle manufacturing eco-system in India. In July, the scheme was extended by two more months till September 30th, and the outlay was enhanced to Rs 778 crore. The scheme targets to support 5.60 lakh electric vehicles (EVs), mostly two-wheelers, the Ministry said. The incentive has been available only to EVs equipped with advanced batteries.
The government will continue to provide subsidies and the temporary Electric Mobility Promotion Scheme (EMPS) 2024 will be extended till the launch of the third phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme said Kumaraswamy at ACMA annual convention
Electric Mobility Promotion Scheme (EMPS) 2024 is expected to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing ecosystem in the country.
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