Electric Mobility Promotion Scheme 2024: The central government has decided to extend the ‘Electric Mobility Promotion Scheme 2024’ by an additional two months, now ending on September 30, according to the Ministry of Heavy Industries. The ministry also announced on Friday that the scheme’s budget has been increased to Rs 778 crore.
Electric Mobility Promotion Scheme 2024
The Electric Mobility Promotion Scheme 2024 (EMPS 2024) was originally launched by the Ministry on March 13, 2024, through a gazette notification. The scheme’s goal is to promote the adoption of electric vehicles (EVs) nationwide. Initially, it was scheduled to run from April 1 to July 31, 2024, with a budget of Rs 500 crore, but it has now been extended and the budget increased.
EMPS 2024: Subsidy Benefits
Under the scheme, buyers can get a subsidy benefit of up to Rs 10,000 for two-wheeler EVs, up to Rs 25,000 for a small three-wheeler EV, and up to Rs 50,000 for large three-wheeler EVs. The ministry also added that the scheme now targets supporting 560,789 electric vehicles (EVs), comprising 500,080 electric two-wheelers (e-2Ws) and 60,709 electric three-wheelers (e-3Ws). This includes 13,590 rickshaws and e-carts, as well as 47,119 e-3Ws in the L5 category.
To promote advanced technologies, incentives will be available only for EVs equipped with advanced batteries. The scheme is fund-limited, and the EVs are also restricted to targeted numbers for each category.
The ministry said that with greater emphasis on providing affordable and environmentally friendly public transportation options for the masses, the scheme will be applicable mainly to those e-2Ws and e-3Ws registered for commercial purposes. Further, in addition to commercial use, privately or corporately owned registered e-2Ws will also be eligible under the scheme.
(Inputs- ANI)
