EMPS will continue beyond Sept: HD Kumaraswamy
HD Kumaraswamy, Union Minister for Heavy Industries, Government of India said that the Electric Mobility Promotion Scheme (EMPS), which provides subsidies to electric two-wheelers and three-wheelers, will be extended beyond its scheduled end in September. He was speaking at the ACMA annual convention on 9 September, 2024.
Minister Kumaraswamy said that this extension period of the scheme will be into effect until the launch of the third version of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme. He also added that the government is seeking to find out and overcome the challenges faced by the FAME II scheme with the next edition.
The EMPS scheme was introduced in April this year and was going to end in July 2024, with a total outlay of Rs 500 crore. It had been extended later by two more months with an additional outlay of Rs 778 crore, until September 2024. Now, this will be the second extension of the EMPS. This scheme is here to offer a short-term support for the EVs, after the expiry of the FAME II scheme.
A Moneycontrol source revealed that the extension was a need of an hour as FAME III, a long-term policy for the EVs, has not been finalised yet.
With inputs from Moneycontrol
Also read
Ather Rizta review - Ather's more sensible, less sporty option
EXCLUSIVE! Yamaha YZF-R1 to Live On; Next-Generation Model Confirmed by Design Chief
Related Stories
