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Heavy Industries Ministry: The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024. Announcing E-Mobility Promotion Scheme 2024 (EMPS 2024), Heavy Industries Minister Mahendra Nath Pandey said the Modi government is committed to promoting e-mobility in the country.
Haneef Qureshi On EV Growth: Qureshi, addressing a Symposium at the International Automotive Technology (SIAT), projected the next seven years as very important for the Indian automotive industry, especially for electric vehicles. With the PLI scheme at its core, India's automotive revolution is poised for accelerated growth, transforming the nation into a global leader in high technology and sustainable mobility.
Ather Energy: "Despite this resilience, such a scenario would still result in one or two more years of stagnated growth, pushing the industry further away from its targets," the CEO of the electric two-wheeler firm said in a statement.
Greaves Electric Mobility, formerly known as Ampere Electric Vehicles, has offered to refund the subsidy it received under the FAME India scheme. The company is one of seven electric two-wheeler makers accused of selling vehicles without meeting localisation requirements. Greaves plans to repay around ₹124.91 crore, making it the second company to offer a refund.
FAME-II Scheme: With the restructuring, it is also considering seeking an additional INR 1,500 crore as support from the finance ministry. Fund allotment shall be increased for the two-wheelers and reduced for three wheelers. Similarly, allotment will be slightly higher for four wheelers, but will be less for buses than the present level.