Electric Mobility Promotion Scheme 2024

1. The Indian government introduced a new initiative to promote the sale of electric two- and three-wheelers.
2. The minister of heavy industries announced that Rs 500 crore will be allocated for the EMPS Scheme for the year 2024.
3. The program will run for 4 months starting on April 1. The Electric Mobility Promotion Scheme (EMPS) 2024 is open until July 2024.
4. This scheme is made to facilitate the usage of electric rickshaws, two-wheelers, and three-wheelers.

EMPS Scheme Details in Highlights

Objectives of Electric Mobility Promotion Scheme

1. Government increased funding under FAME-II program in February 2024 from Rs 10,000 crore to Rs 11,500 crore.
2. Electric two-, three–, and four-wheelers sold until March 31, 2024, or until funds are available, whichever comes first, would be eligible for these demand incentive subsidies.

Benefits of Electric Mobility Promotion Scheme:

The following are the benefits of Electric Mobility Promotion Scheme:

1. The government’s efforts to advance electric mobility and meet Net Zero goals are demonstrated by the new program.
2. Over four months, the allotted Rs 500 crore will be used to assist about 400,000 e2W and e3W.

Features of Electric Mobility Promotion Scheme:

1. The scheme aims to support the industry and get it ready for a post-subsidy environment.
2. The goal of the government is to assist roughly 3.3 lakh motorcycles. A financial help of ₹10,000 for each two-wheeler would be given under the initiative.
3. Under the program, the government intends to cover around 31,000 tiny three-wheelers (e-rickshaws and e-carts) and would give ₹25,000 in funding to help with their purchase.
4. A ₹50,000 financial support will be given for the purchase of a big three-wheeler.
5. The incentive for electric two-wheelers under the Electric Mobility Promotion Scheme 2024 has been lowered from ₹22,500 to ₹10,000.
6.  The incentive for electric three-wheelers has been set at ₹50,000 for vehicles with larger batteries and ₹25,000 for e-rickshaws.

Details of Incentives and Cap per Vehicle Type