EMPS 2024 aims to support 372,215 EVs.
New Delhi: To further expedite the adoption of electric vehicles (EVs) nationwide, the government has unveiled the Electric Mobility Promotion Scheme 2024 (EMPS 2024) with a total budget allocation of Rs 500 crore earmarked for the electric two-wheeler and three-wheeler sectors.
Introduced by the Ministry of Heavy Industries, EMPS 2024 is a time-bound initiative spanning four months, commencing from April 1, 2024, until July 31, 2024. In this scheme, expenditures are typically constrained to the sanctioned amount.
Under EMPS 2024, electric two-wheelers and three-wheelers, including registered electric rickshaws and electric carts, as well as L5 models, will be eligible for subsidies or demand incentives. For context, the L5 classification of electric three-wheelers encompasses models with a maximum speed exceeding 25kmph and motor power surpassing 0.25kW. These models have a gross vehicle weight (GVW) of up to 1,500kg, excluding the weight of traction batteries.
Of the total allocation of Rs 500 crore, Rs 493.55 crore has been designated for subsidies or demand incentives for electric two-wheelers and three-wheelers, with the remaining Rs 6.45 crore allocated for scheme administration, encompassing informational, educational, and communication endeavors, along with project management agency fees.
EMPS 2024 endeavors to bolster 372,215 EVs, comprising 333,387 electric two-wheelers and 38,828 electric three-wheelers, including 13,590 electric rickshaws and electric carts, as well as 25,238 L5 models.
Furthermore, incentives under EMPS 2024 will exclusively apply to EVs equipped with advanced batteries.
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