Electric Mobility Promotion Scheme 2024 Aims to Boost Adoption of Electric Vehicles
The Indian government has unveiled a new initiative to propel the adoption of electric vehicles (EVs) across the country. With the introduction of the Electric Mobility Promotion Scheme 2024 (EMPS 2024), effective from April 1, the Ministry of Heavy Industries aims to drive the transition towards greener transportation options.
The EMPS 2024, with a budget of INR 500 crore, is set to run from April 1 to July 31, 2024, focusing on incentivizing the purchase of electric two-wheelers and three-wheelers. Under this scheme, subsidies of up to INR 10,000 per two-wheeler will be offered for approximately 3.33 lakh electric scooters and motorcycles. Additionally, small three-wheelers, including e-rickshaws and e-carts, stand to receive subsidies of up to INR 25,000 for over 41,000 vehicles, while large three-wheelers could benefit from subsidies of up to INR 50,000.
The primary objective of EMPS 2024 is to accelerate the adoption of electric vehicles while promoting domestic manufacturing and strengthening the EV supply chain. By prioritizing vehicles equipped with advanced batteries, the scheme aims to support the deployment of environmentally friendly transportation solutions.
Aligned with the Atmanirbhar Bharat initiative, EMPS 2024 seeks to foster a competitive and self-reliant EV manufacturing ecosystem in India. Through the implementation of the Phased Manufacturing Programme, the scheme aims to create a conducive environment for local production, thereby generating employment opportunities and enhancing economic growth across the EV value chain.
