Jul 27, 2024 08:52 PM IST
The Electric Mobility Promotion Scheme (EMPS) 2024, aimed to replace the FAME scheme has been extended to September end and outlay has also been increased.
The central government has extended the ‘Electric Mobility Promotion Scheme (EMPS) 2024’ by two months, till September 30, 2024, according to a statement from the Ministry of Heavy Industries, which added that the total outlay for the scheme has also now been increased to ₹778 crore from ₹500 crore earlier.
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What is the Electric Mobility Promotion Scheme (EMPS) 2024?
The Electric Mobility Promotion Scheme (EMPS) 2024 was launched by the Ministry of Heavy Industries on March 13, 2024, for boosting the adoption of electric vehicles (EVs) across the country after the Faster Adoption & Manufacturing of Electric Vehicles (FAME) subsidy scheme would go on to lapse on March 31, 2024.
It was originally slated to have a tenure from April 1 to July 31, 2024, but the end of its tenure has now been revised to September 30 this year.
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The scheme is applicable to commercial two and three-wheeler EVs, and just two-wheeler private EVs. EV buyers can get benefits up to ₹10,000 for two-wheeler EVs, up to ₹25,000 for small three-wheeler EVs, and up to ₹50,000 for large three-wheeler EVs.
Which EV brands have gotten approval for subsidies under EMPS?
Ather Energy, Bajaj Auto, Ola Electric, Hero Motocorp, TVS, and Kinetic Green are among the companies that have gotten approvals to claim EMPS subsidy, according to an Economic Times report, which added that subsidies per unit for two and three-wheeler EVs are now scaled down to less than half of what they were under FAME.
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The target numbers have also been revised to over 5.61 lakh EVs from 3.72 lakh earlier, including 500,080 electric two-wheelers and 60,709 electric three-wheelers.
