New Delhi: In a significant boost to electric vehicle adoption in India, the Ministry of Heavy Industries has announced the extension of the Electric Mobility Promotion Scheme (EMPS) 2024 by two months, until September 30. The scheme, which offers substantial subsidies for electric two-wheelers and three-wheelers, was initially set to conclude on July 31.
Launched on March 13, 2024, through a gazette notification, the EMPS 2024 aims to accelerate the transition to electric mobility across the country. The scheme provides incentives of up to Rs 10,000 for two-wheeler EVs, up to Rs 25,000 for small three-wheeler EVs, and up to Rs 50,000 for large three-wheeler EVs.
To further encourage the adoption of electric vehicles, the government has increased the total outlay of the scheme to Rs 778 crore from the initial allocation of Rs 500 crore. This enhanced funding will support a target of 560,789 electric vehicles, comprising 500,080 electric two-wheelers and 60,709 electric three-wheelers.
The scheme primarily focuses on providing affordable and eco-friendly public transportation options. As a result, it is primarily applicable to electric two-wheelers and three-wheelers registered for commercial purposes. However, the scheme also extends benefits to privately or corporately owned registered electric two-wheelers.
To promote advanced technology, the EMPS 2024 will only provide incentives for electric vehicles equipped with advanced batteries. The scheme has a limited fund and specific targets for each EV category.
The extension of the EMPS 2024 and the increase in the outlay are expected to significantly boost the demand for electric vehicles in India. The scheme aligns with the government’s broader push towards sustainable and clean mobility solutions.
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