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Government to launch FAME III scheme within two months
Industry News- Sep 06,24
Domestic sales for three-wheelers reached 59,073 units in July 2024, marking a 5.1% year-on-year increase, while two-wheeler sales surged to 1.44 million units, reflecting a 12.5% growth.
Union Minister for Heavy Industries H.D. Kumaraswamy announced that the third phase of the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme will be introduced within the next two months. Speaking at the National Conference on Electric Mobility organised by ASSOCHAM, Kumaraswamy highlighted the government's commitment to advancing local EV manufacturing and sustainable growth in the electric vehicle sector.
He reported that domestic sales for three-wheelers reached 59,073 units in July 2024, marking a 5.1% year-on-year increase, while two-wheeler sales surged to 1.44 million units, reflecting a 12.5% growth. Kumaraswamy also underscored the need to bridge the skill gap in the EV sector by collaborating with industry bodies to develop a future-ready workforce and boost the adoption of EVs across heavy-duty trucks.
Tarun Kapoor, Advisor to the Prime Minister, emphasised India's potential to lead globally in the EV sector. He noted that global EV sales hit 13.8 million units in 2023, accounting for 18% of total vehicle sales. In India, sales included 900,000 two-wheelers, 580,000 three-wheelers, and 85,000 four-wheelers, highlighting significant growth potential.
Nishant Arya, Chairman- National Council on Green Mobility, ASSOCHAM, projected that the EV sector could create 50 million jobs over the next decade. He advocated for sector-specific policies, such as the Production Linked Incentive (PLI) scheme and infrastructure status, to drive further growth. Arya also stressed the importance of skill development in electronics, diagnostics, and emerging technologies.
(ET)
Tarun Kapoor
Nishant Arya
H.D. Kumaraswamy
Faster Adoption & Manufacturing of Electric Vehicles
FAME
Electric Vehicles
EV
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