Electric Mobility Promotion Scheme 2024 to be extended: HD Kumaraswamy

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 ...