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India is set to witness a major push towards electric mobility with the introduction of a new ₹500 crore scheme aimed at promoting the adoption of electric vehicles (EVs) across the country. The scheme, known as the Electric Mobility Promotion Scheme 2024 (EMPS 2024), is part of the government’s efforts to accelerate the transition towards cleaner and greener transportation options.
EMPS 2024, launched by the Ministry of Heavy Industries, will provide significant financial incentives to encourage consumers to switch to electric vehicles. Under this scheme, customers purchasing two-wheelers will receive support of up to ₹10,000 per vehicle, with the goal of supporting around 3.33 lakh electric two-wheelers.
Additionally, small three-wheelers such as e-rickshaws and e-carts will be eligible for incentives of up to ₹25,000, benefiting over 41,000 vehicles. For large three-wheelers, the financial support will be up to ₹50,000 per vehicle.
The primary objective of EMPS 2024 is to promote the faster adoption of electric two-wheelers and three-wheelers, thereby contributing to increased green mobility and the development of the EV manufacturing ecosystem in India. The scheme is part of the government’s Atmanirbhar Bharat initiative and aims to support 3,72,215 electric vehicles.
The scheme, which is funded with a total outlay of ₹500 crore for a four-month period from April 1 to July 31, 2024, is designed to boost domestic manufacturing and strengthen the EV supply chain. By encouraging local production, the scheme aims to create employment opportunities and contribute to the country’s self-reliance in the electric mobility sector.
The EMPS 2024 scheme aligns with the government’s Phased Manufacturing Programme, emphasizing the importance of indigenous manufacturing and the development of a robust EV ecosystem. With this initiative, India is taking significant strides towards achieving a sustainable and eco-friendly transportation system while supporting the growth of the electric vehicle industry.
Sources By Agencies
