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highlights
Central government launched EMPS scheme for electric vehicles.
Under this scheme, there is a fund of Rs 500 crore to provide subsidy on electric vehicles.
The new subsidy scheme will be applicable for 4 months from April 1.
New Delhi. The central government is running the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme to promote the sale of electric vehicles in the country. However, this scheme is going to end on 31 March 2024. In place of this scheme, the government will take a new scheme which is being called Electric Mobility Promotion Scheme (EMPS). The central government has announced its launch today i.e. on March 13. According to the information, as soon as this scheme is implemented, the subsidy on electric vehicles will be reduced due to which the electric vehicles being sold in the market will now become expensive.
If you are planning to buy an electric vehicle, then you have a chance to buy it at a cheap price till 31st March. After this the prices of EV may increase. Actually, the government has made it clear that the subsidy given under the FAME-II scheme on electric vehicles will be given till March 31, 2024 or till the funds remain available.
Currently getting subsidy up to Rs 30,000
Let us tell you that under the FAME-II scheme, currently a maximum subsidy of Rs 30,0000 is being given on electric scooter and a maximum of Rs 1.5 lakh on electric car. However, this subsidy will now be available only on electric vehicles registered till March 31, 2024. Under the FAME-2 scheme, till now subsidy has been given on the sale of about 12 lakh two-wheelers, 1.41 lakh three-wheelers and 16,991 four-wheelers. Subsidy of more than Rs 5,829 crore has been given under FAME-II scheme.
Subsidy will remain only Rs 10,000
According to media reports, the new scheme will be implemented for 4 months from April 1, 2024. Its validity will be till 31 July 2024. Under this, the government has set a target of distributing subsidy of Rs 500 crore. Under the new scheme, the subsidy for electric two-wheeler will now be Rs 10,000. At the same time, the subsidy for electric three wheelers and e-rickshaw has been fixed at Rs 25,000 and for electric three wheelers with higher battery capacity, the subsidy has been fixed at Rs 50,000.
15.3 lakh electric vehicles sold in 2023
Demand and sales of electric vehicles have increased rapidly in the country. Especially in the two-wheeler and three-wheeler segments, more growth is being seen. Total sales of electric vehicles had reached 15.30 lakh units in 2023, while in 2022 it was 10.2 lakh units. In such a situation, companies believe that if the government takes forward the third phase of FAME-2 subsidy, it will help in the growth of the industry.
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Tag: auto news, Electric Car, electric scooter, electric vehicles
first published : March 14, 2024, 3:04 pm IST
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