In a bid to accelerate green mobility and enhance the electric vehicle (EV) manufacturing ecosystem in India, the Ministry of Heavy Industries has announced the Electric Mobility Promotion Scheme (EMPS) 2024. Officially launched through gazette notification 1334 (E) on 13th March 2024, the scheme will run from April 1, 2024, to July 31, 2024, with a total budget of Rs. 500 crore.
Scheme Breakdown and Allocation
The EMPS 2024 targets different categories of electric vehicles with specific fund allocations:
- Electric Two-Wheelers (e-2w): 3,33,387 vehicles supported with an outlay of Rs. 333.39 crore
- Electric Rickshaws/Carts (e-3w): 13,590 vehicles supported with an outlay of Rs. 33.97 crore
- Electric Three-Wheelers (L5): 25,238 vehicles supported with an outlay of Rs. 126.19 crore
In total, the scheme aims to support 3,72,215 electric vehicles, utilizing Rs. 493.55 crore of the allocated funds.
Scheme Conditions and Validity
The EMPS 2024 is a fund-limited and time-bound scheme. Subsidies will be available for e-2w and e-3w vehicles sold and registered until the allocated funds are depleted, the maximum number of vehicles supported is reached, or the scheme’s end date of July 31, 2024, whichever occurs first. Eligible vehicles must be manufactured and registered within the scheme’s validity period to qualify for incentives.
First-Come, First-Served Basis
The total payout for demand incentives is capped at Rs. 493.55 crore. If the funds are exhausted before the scheme’s end date, no further claims will be processed. Claims will be incentivized on a first-come, first-served basis, ensuring a fair and efficient allocation of resources.
The EMPS 2024 reflects the Indian government’s commitment to promoting sustainable and green mobility, setting a clear path for the adoption of electric vehicles across the country.
