The FAME-III scheme will replace the Electric Mobility Promotion Scheme (EMPS) 2024, which is set to expire by the end of September
The Union minister of heavy industries, H.D. Kumaraswamy, said on Wednesday that the union government will roll out the third edition of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme in a few months. The minister informed the ongoing development regarding the FAME-III scheme at ASSOCHAM’s National Conference on Electric Mobility on September 4.
“On FAME-III, several suggestions are coming because in FAME-I, FAME-II whatever lacunae is there, how to separate it, for that we are working. Even the PMO...has given some suggestions, for that our inter-ministerial group is working,” Kumaraswamy said at the conference. Regarding the timeline of the launch, he said it will be out within one-two months.
As India is gradually stepping towards a green economy, its focus has shifted to adopting cleaner vehicles. FAME India is a part of the broader national electric mobility mission plan.
Once the FAME-III scheme is out, it will replace the Electric Mobility Promotion Scheme (EMPS) 2024, which had a budgetary allocation of Rs 500 crore. The ministry of heavy industries is tasked with its implementation. EMPS, currently in place, is not a permanent scheme. The scheme started in April 2024 and is set to expire by the end of September.
Prior to EMPS, FAME-II was in place. The second phase of FAME was launched in 2019 with funds allocated worth Rs. 10,000 for three years. The scheme was extended to March 2024 with an extra fund allocation worth Rs 1,500 crore. The scheme has given incentives to nearly 1.6 million vehicles since its launch, according to a Business Standard report.
FAME-I was launched in 2015, and the government allocated nearly Rs 900 crore in funds.