Union Heavy Industries Minister H.D. Kumaraswamy said the government will finalise the third phase of its flagship electric mobility adoption scheme, FAME 3, in a month or two.
For the unversed, FAME is an acronym for Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle scheme. It offers subsidies for electric vehicles.
On Wednesday, Kumaraswamy said an inter-ministerial group is addressing the issues faced in the previous two phases of FAME. He was speaking on the sidelines of an Assocham event in New Delhi.
"On FAME 3, several suggestions are coming because in FAME 1, FAME 2 whatever lacunae is there, how to separate it, for that we are working," said Kumaraswamy.
Pointing out that the FAME 3 will be cleared in two months, he said suggestions received by his ministry, including the Prime Minister's Office, has to be taken into account before opting for the best, positive way.
FAME 3 will replace the temporary Electric Mobility Promotion Scheme (EMPS) 2024, which will expire this month. FAME 2 was launched in 2019 with an initial outlay of Rs 10,000 crore for three years. In March 2024, it was increased to Rs 11,500 crore.
