 "The Electric Mobility Promotion Scheme achieves 60% of its target, extending support for India’s growing electric vehicle market amid impending FAME-III.")
The Electric Mobility Promotion Scheme (EMPS) is set to be extended until the launch of FAME-III, announced Union Minister H D Kumaraswamy. The current scheme, which is due to end on September 30, has already achieved 60 percent of its target, supporting over 334,000 electric vehicles. The extension is expected to last for about two months. This initiative has been crucial in boosting electric vehicle sales in India, with significant contributions from major manufacturers like Ather Energy and Ola Electric. New measures, including labeling EVs with a government logo and a self-KYC process for vehicle registration, are also in the pipeline, aimed at enhancing consumer awareness and participation.
The Electric Mobility Promotion Scheme (EMPS) is set to be extended until the introduction of the FAME-III initiative. Union Minister for Heavy Industries H D Kumaraswamy announced this during the recent 64th ACMA Annual Session held in New Delhi.
The EMPS, which was originally due to end on September 30, has already been extended once and is expected to last an additional two months. According to the latest reports, the scheme has successfully supported 334,260 electric vehicles (EVs) out of a revised target of 560,000 units as of August 15, representing 60% of its goal.
Kumaraswamy emphasized the government’s dedication to enhancing India’s electric vehicle ecosystem, focusing on local manufacturing and sustainable growth. He confirmed that FAME-III is anticipated to launch within the next two months.
The Electric Mobility Promotion Scheme has seen significant financial backing, with initial allocations of ₹500 crore increasing to ₹778 crore. Major players in the EV sector, such as Ather Energy, Ola Electric, and Mahindra, are key participants in this initiative. The Ministry of Heavy Industries is also working on new plans to ensure transparency, including the use of a unique logo on subsidized vehicles and a self-KYC process.
Since its launch in 2015, government initiatives have driven EV sales from under 7,000 units to 1.5 million units in FY24. However, the sector has faced challenges since the conclusion of FAME-II in March 2024, leading to some industry slowdowns despite a growing number of manufacturers involved.
Stay tuned for more updates as the FAME-III scheme approaches.
Tags: Electric Vehicles, EMPS, FAME-III, Indian EV Market, Sustainable Growth, Kumaraswamy, EV Sales, Government Initiatives, Ather Energy, Ola Electric.
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What is EMPS?
EMPS stands for the Employment Management and Placement System. It helps connect job seekers with employers to make finding jobs easier. -
What is FAME-III?
FAME-III is the third phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India, aimed at promoting electric vehicles for a greener future. -
Why is the MHI Minister Kumaraswamy talking about EMPS and FAME-III?
Minister Kumaraswamy wants to ensure that the EMPS continues to operate smoothly until FAME-III is officially launched, which will help create more job opportunities in the electric vehicle sector. -
How will EMPS benefit job seekers?
EMPS provides job seekers with better access to job listings and resources, making it easier for them to find employment in growing industries like electric vehicles. - When is the FAME-III launch expected?
The exact date for the launch of FAME-III hasn’t been announced yet, but it is anticipated to happen soon.
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