The Ministry of Heavy Industries announced a new scheme to encourage the adoption of electric vehicles (EVs) in India, allocating Rs 500 crore for a four-month period starting April 2024. This initiative, known as the E-Mobility Promotion Scheme 2024 (EMPS 2024), focuses on supporting the adoption of electric two-wheelers and three-wheelers.
FAME-II, the second phase of the Faster Adoption and Manufacturing of Electric Vehicles program, concludes on March 31, 2024. Minister Mahendra Nath Pandey emphasized the government’s commitment to promoting e-mobility in the country.
The EMPS 2024 will run for four months until July 2024. It offers financial support of up to Rs 10,000 for each electric two-wheeler, aiming to assist approximately 3.3 lakh such vehicles.
Additionally, small three-wheelers (e-rickshaws and e-carts) will receive support of up to Rs 25,000, benefiting over 41,000 vehicles. Larger three-wheelers will be eligible for financial assistance of up to Rs 50,000.
The subsidies provided under the FAME-II scheme will apply to e-vehicles sold until March 31, 2024, or until the allocated funds are exhausted.
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