Monday, July 29, 2024
By Kamal Swami
Electric Mobility Promotion Scheme Extended Till September 30, 2024
In a dynamic move to encourage the use of electric vehicles (EVs) in the country, the government has announced an extension of the Electric Mobility Promotion Scheme (EMPS). The scheme was going to conclude on July 31, 2024. Now with the new announcement by the government, the scheme will continue until September 30, 2024, offering various benefits to customers planning to buy an electric vehicle for travelling.
The updated EMPS provides substantial subsidies: up to Rs 10,000 for electric two-wheelers, up to Rs 25,000 for small electric three-wheelers, and up to Rs 50,000 for large three-wheeler EVs. The objective of this extension is to inspire people for the adoption of battery-powered vehicles across the country.
The EMPS was launched in March 2024 by the Ministry of Heavy Industries. It was designed to support over 5,60,789 battery-powered vehicles. In the beginning, the scheme offered benefits to 3,33,387 electric two-wheelers, a number that has since been increased to 5,00,080. Along with this, the scheme also provided benefits to 60,709 electric three-wheelers, such as e-rickshaws and e-carts.
To drive the people towards the subsidy offered on the purchase of electric vehicles, the government changed the budget of the scheme from Rs 500 crore to Rs 778 crore. The objective to increase this budget is to shift people from fuel-powered vehicles to EVs, promote environmental sustainability and support the growth of the battery-powered vehicle manufacturing industry in India. This extension and increased funding marks the government's commitment to green initiatives and the development of the electric vehicle sector, encouraging more citizens to adopt eco-friendly transportation options.
