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New Delhi. The central government has extended the ‘Electric Mobility Promotion Scheme (EMPS) 2024’ by two months to 30 September 2024. The scheme was earlier scheduled to end in July 2024. Apart from this, the total budgetary allocation for the scheme has also been increased from ₹ 500 crore to ₹ 778 crore.
The target for the scheme has also been updated to support the purchase of 5,60,789 electric vehicles (EVs), up from 3,72,215 earlier. These include 5,00,080 electric two-wheelers and 60,709 electric three-wheelers.
What is EMPS for e-vehicles?
The Electric Mobility Promotion Scheme (EMPS) 2024 was launched by the Ministry of Heavy Industries on March 13, 2024, with the aim of promoting the adoption of electric vehicles (EVs) across the country. The scheme has been introduced in place of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles i.e. FAME subsidy scheme, which expired on March 31, 2024.
The duration of EMPS was originally fixed from April 1 to July 31, 2024, but now its duration has been revised to September 30 this year. That is, now customers will be able to avail subsidy on the purchase of electric scooters and electric three-wheelers till July 31.
₹ 10,000 discount on electric scooters
The scheme is applicable on commercial two-wheeler and three-wheeler electric vehicles and two-wheeler private electric vehicles. EV buyers can get benefits of up to ₹10,000 for two-wheeler EVs, up to ₹25,000 for small three-wheeler EVs and up to ₹50,000 for large three-wheeler EVs.
Take advantage of subsidy on e-scooters of these companies
According to a Times of India report, Ather Energy, Bajaj Auto, Ola Electric, Hero MotoCorp, TVS and Kinetic Green are among the companies that have been approved to claim the EMPS subsidy. The per unit subsidy for two-wheeler and three-wheeler electric vehicles under EMPS is now less than half of the subsidy available under FAME.
Tag: auto news, electric vehicles
first published : July 28, 2024, 11:10 IST
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