Revolt Motors has gained approval from the Ministry of Heavy Industries, qualifying it for EV subsidy programs. The company has settled the subsidies availed under the FAME-II regime and resolved previous subsidy-related issues. This approval qualifies Revolt Motors for the Electric Mobility Promotion Scheme (EMPS) 2024 subsidy and the forthcoming FAME III scheme. The EMPS 2024 scheme, extended to September 30, 2024, provides a subsidy of INR 10,000 per motorcycle from the Central Government.
This approval is a significant milestone for Revolt Motors. The company can now benefit from subsidies under the ongoing EMPS 2024, making its motorcycles more competitively priced and potentially increasing sales and profitability.
Anjali Rattan, Co-Chairperson of RattanIndia Enterprises Ltd., the parent company of Revolt Motors, stated, “We are excited and honored to receive this endorsement from the Ministry of Heavy Industries. This approval reaffirms our commitment to Make in India through our locally produced electric motorcycles. Revolt Motors is dedicated to delivering eco-friendly transportation solutions that are accessible to all Indians.”
With eligibility for the EMPS 2024 subsidy, Revolt Motors gains a significant competitive advantage in the market. The INR 10,000 subsidy per motorcycle from the Central Government will enhance the appeal of their products to consumers, potentially boosting sales and profitability.
The extension of the EMPS 2024 scheme until September 30, 2024, allows Revolt Motors to plan and execute its market strategies effectively. Committed to producing 100% made in India electric motorcycles, Revolt Motors continues to provide accessible, environmentally-friendly transportation to all Indians.
