FAME-III likely to be released on Budget day with Rs 10,000 crore outlay

Quick Summary:

In total, 54,729 electric three-wheelers were sold in May 2024, up from 44,641 units in May 2023.

We believe that the introduction of new subsidies and incentives under FAME-III will provide the necessary boost to EV sales and help increase their market share significantly,” FADA President Manish Raj Singhania said.

Support for electric four-wheelers was completely removed under EMPS, which aimed to support the sales of 333,387 electric two-wheelers and 38,828 three-wheelers.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Rs 10 EV sales Electric three-wheelers 000 crore Subsidies Green mobility Electric two-wheelers EMPS Electric vehicles Budget 2024 FAME-III

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-14 @ 09:32:01 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 473 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21250319

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