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New Delhi. A new scheme of Rs 500 crore to promote electric mobility in India will be implemented from Monday (April 1) and will continue till the end of July. Meanwhile, Faster Adoption and Manufacturing of Electric Vehicles in the Country The second phase of the (FAME-II) program is ending on March 31, 2024. Subsidy under the FAME scheme will be available for e-vehicles sold till March 31 or till funds are available.
To further accelerate the adoption of Electric Vehicles (EV) in the country, the Ministry of Heavy Industries has launched the Electric Mobility Promotion Scheme 2024 (EMPS 2024) worth Rs 500 crore.
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Financial assistance will be available up to Rs 50,000
Under EMPS 2024, assistance up to Rs 10,000 will be provided per two-wheeler. It aims to provide support for approximately 3.33 lakh two-wheelers. Assistance up to Rs 25,000 will be provided on the purchase of small three-wheelers (e-rickshaws and e-carts). Under the scheme, incentives will be provided to more than 41,000 such vehicles. In case of big three-wheeler, financial assistance will be up to Rs 50,000.
EMPS 2024 is a fund-limited scheme
EMPS 2024 is a fund-limited scheme. In this, a total expenditure of Rs 500 crore will be spent for 4 months i.e. from April 1, 2024 to July 31, 2024 for faster adoption of electric two-wheelers (e-2W) and three-wheelers (e-3W).
Support to 3,72,215 electric vehicles
The Ministry of Heavy Industries announced this on March 13 to provide further impetus to the development of green mobility and EV manufacturing ecosystem in the country. The aim of this scheme is to support 3,72,215 electric vehicles.
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Tag: electric vehicle, electric vehicles
first published : March 31, 2024, 7:34 pm IST
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