In good news for auto companies operating in the electric vehicle (EV) sector, the government on Monday said it will continue with its Electric Mobility Promotion Scheme (EMPS) programme, aimed at encouraging the use of electric vehicles in the country. Reiterating its intention to resolve any issues in the second phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, as part of its efforts to promote the adoption of electric and hybrid vehicles in the country, the government said it will soon launch FAME III (third phase of the scheme).
India aims to promote sales of electric and hybrid vehicles as part of its efforts to reduce vehicular pollution and dependence on fossil fuels.
Addressing the 64th annual session of the Automotive Component Manufacturers Association of India, the industry body representing domestic auto parts makers, he said, Heavy Industries Minister HD Kumaraswamy said India is on the path of economic transformation. with the industry It will play an important role in fulfilling his ambition of becoming self-reliant.
The Minister said that by working closely with the Government, the industry has gained momentum despite constraints like global challenges and rising logistics costs.
He said more than 35,000 employment opportunities have been created in the industry through the government's production-linked incentive (PLI) scheme. Kumaraswamy.
The Union Minister also highlighted that the PLI scheme for storage technology will continue to provide support to the sector.
The government initially launched its PLI programme in March 2020 and expanded its scope to include more industries in the subsequent months.
The minister said that the results of the outlay of Rs 11,500 crore for FAME-II scheme are already visible.
He said the government is committed to provide all possible assistance to promote manufacturing.
