The third phase of the Faster Adoption and Manufacturing of Electric (and Hybrid) vehicles program is set to be implemented in India soon. Union Heavy Industries Minister H D Kumaraswamy announced that subsidies for electric vehicles will continue until FAME-III is implemented. FAME-II ended in March, and the Electric Mobility Promotion Scheme (EMPS) was launched to support the EV segment until FAME-III is in place. EMPS was supposed to end in July but has been extended until September with an increased budget. The scheme allows customers to purchase battery-powered vehicles with discounts subsidized by manufacturers, reimbursed by the government. Despite government support, EV sales have been low with only 5.28% of two-wheelers and 1.99% of four-wheelers being electric vehicles sold in India since 2018.
source
Discover more from GLOBALMALAYALAM.NEWS
Subscribe to get the latest posts sent to your email.
