Schedule a Call Back
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
Related Stories
Auto & Auto Components
Numeros Motors and IIT Bhubaneswar to pioneer RE-free motor topologies
The collaboration is intended to support India’s clean mobility goals by reducing dependence on rare earth materials—key components in traditional EV motors—and by encouraging local innovation..
Read morePumps & Valves
Crompton receives solar water pump order from MEDA
This development comes at a time when India’s submersible water pump market is witnessing rapid growth, driven by increasing demand across agriculture, rural water supply, urban infrastructure, an..
Read moreAerospace Defence
IIM Bangalore and TBS Education host panel on future of aviation and aerospace
The agenda encompassed India’s increasing role in global supply chains, the potential of Make in India manufacturing, and emerging innovations such as EVtol, drones, and AI-powered aviation system..
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
