Subsidies underneath the FAME scheme will likely be eligible for e-vehicles offered until March 31, or until the time funds can be found.
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The Rs 500 crore Electrical Mobility Promotion Scheme 2024 (EMPS 2024) scheme is being launched by the Ministry of Heavy Industries to additional speed up the adoption of electrical autos (EVs) within the nation.
Underneath EMPS 2024, a assist of as much as Rs 10,000 per two-wheeler will likely be offered. The goal is to supply assist for about 3.33 lakh two-wheelers.
A assist of as much as Rs 25,000 will likely be given for the acquisition of small three-wheelers (e-rickshaw and e-carts). Greater than 41,000 such autos will likely be offered incentives underneath the scheme.
The monetary assist will likely be as much as Rs 50,000 in case of a big three-wheeler.
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The EMPS 2024 is a fund-limited scheme with a complete outlay of Rs 500 crore for 4 months — from April 1, 2024 until July 31, 2024 — for quicker adoption of electrical two-wheeler (e-2W) and three-wheeler (e-3W) to supply additional impetus to the inexperienced mobility and growth of EV manufacturing ecosystem within the nation introduced by the Heavy Industries Ministry on March 13. The scheme goals to assist 3,72,215 EVs. To encourage superior applied sciences, the advantages of incentives will likely be prolonged to solely these autos which are fitted with superior batteries, the ministry had stated.
As a part of the Atmanirbhar Bharat initiative of the federal government, the EMPS 2024 promotes an environment friendly, aggressive and resilient EV manufacturing business within the nation. For this function, the Phased Manufacturing Programme has been adopted that encourages home manufacturing and strengthening of the EV provide chain.
It will additionally create vital employment alternatives alongside the worth chain.
