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New ₹500 crore scheme to promote electric mobility kicks in from April 1: All you need to know


The new 500 crore scheme to promote electric mobility in India will come into force from today (April 1). The scheme will continue till the end of July as the second phase of FAME- Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme- ends on March 31 which means that subsidies under the scheme will be eligible for e-vehicles sold till March 31.

Second phase of FAME- Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme- ends on March 31.

What is the new Electric Mobility scheme?

The 500 crore Electric Mobility Promotion Scheme 2024 (EMPS 2024) scheme has been introduced by the Ministry of Heavy Industries. The aim of the scheme is to propel adoption of electric vehicles (EVs) in the country.

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What does EMPS 2024 scheme offer?

Under EMPS 2024, customers will be provided with a support of up to 10,000 per two-wheeler with the aim is to provide support for about 3.33 lakh two-wheelers.

For the purchase of small three-wheelers (e-rickshaw and e-carts), s support of up to 25,000 will be given and over 41,000 such vehicles will be provided incentives under the scheme.

The financial support will be up to 50,000 in case of a large three-wheeler, as per the scheme.

What is the aim of the EMPS scheme 2024?

The EMPS 2024 is a fund-limited scheme with a total outlay of 500 crore for four months. The scheme starts from April 1, 2024 and ends on July 31, 2024. The aim of the scheme is to promote faster adoption of electric two-wheeler (e-2W) and three-wheeler (e-3W) and increase green mobility as well as development of EV manufacturing ecosystem in the country.

The scheme aims to support 3,72,215 EVs and is the part of the Atmanirbhar Bharat initiative of the government. The Phased Manufacturing Programme has been adopted which encourages domestic manufacturing and strengthening of the EV supply chain and aims to create employment opportunities as well.

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