FAME-3 is set to succeed the interim Electric Mobility Promotion Scheme (EMPS) 2024, which will conclude in September.
Union Heavy Industries Minister H D Kumaraswamy announced on Wednesday, September 4, 2024, that the third phase of the government’s primary electric mobility adoption initiative, known as FAME, is anticipated to be finalised within the next one to two months. Minister Kumaraswamy highlighted that an inter-ministerial group is currently reviewing feedback for the upcoming phase and is actively addressing concerns identified in the first two phases of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) program.
The forthcoming FAME-3 will take over from the provisional Electric Mobility Promotion Scheme (EMPS) 2024, which is due to end in September. The second phase of the FAME initiative was launched in 2019 with an initial funding of ₹10,000 crore over three years, subsequently extended to March 2024 with an additional ₹1,500 crore. The primary goals of this scheme were to support the adoption of 10 lakh electric two-wheelers, 5 lakh electric three-wheelers, 55,000 passenger cars, and 7,000 electric buses.
Regarding the development of FAME-3, Kumaraswamy noted that the inter-ministerial group is actively considering various suggestions to improve upon the shortcomings identified in earlier phases. He also mentioned that the Prime Minister’s Office has provided some recommendations for the scheme.
When asked about the timeline for FAME-3’s approval, the Minister was optimistic, indicating that the proposal should be finalized within one to two months. He also pointed out that they are still receiving feedback on the FAME-3 proposal, underscoring the commitment to integrate the most effective and positive suggestions before it is presented to the Union Cabinet for approval.
In response to inquiries about unsold vehicle inventories, Minister Kumaraswamy acknowledged receiving numerous appeals from the automobile sector. He reassured that efforts are underway to determine the most effective strategies to bolster the industry.
