₹500 Crore Electric Mobility Promotion Scheme Kicks In From April 1

As the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme ends, the new ₹500 crore Electric Mobility Scheme 2024 (EMPS2024) has kicked in today. This fund-limited scheme will be valid for four months, from April 1, 2024, to July 31, 2024. It has been introduced to accelerate further the adoption of electric two-wheelers (e2W) and three-wheelers (e3W). 

Under the EMPS 2024 scheme, electric two-wheelers will receive incentives up to ₹10,000. The Government aims to support at least 3.33 lakh two-wheelers under this scheme. This is followed by small three-wheelers (e-rickshaws and e-carts) which will receive support up to ₹25,000, while bigger electric three-wheelers will receive support up to ₹50,000. The Government aims to support more than 41,000 small e3Ws.

(Also Read: “I don't think the industry dies,” Tarun Mehta’s Take On FAME-II Expiry)

The Heavy Industries Ministry introduced the EMPS 2024 on March 13, 2024. The scheme will support 3,72,215 EVs. However, the benefits of incentives will be extended and applicable to only those vehicles that will be fitted with advanced batteries, the ministry clarified.