Electric scooters get Rs. 10,000 benefit from Electric Mobility Promotion Scheme 2024

The Electric Mobility Promotion Scheme 2024 has been launched by the Ministry of Heavy Industries, aimed at fostering the adoption of electric vehicles (EVs) across the nation. With a total allocation of Rs. 500 crore, a significant portion amounting to Rs. 333.39 crore has been earmarked for electric two-wheelers.

The remaining funds are allocated for both commercial and personal electric three-wheelers. Under the scheme, electric scooters stand to gain a subsidy of Rs. 10,000 each, making a staggering total of 3,33,387 units eligible for the EMPS 2024. It’s important to note that the EMPS is applicable only from April 1st to July 31st. This new initiative is poised to bolster EV sales by extending support to manufacturers, dealerships, and end consumers alike.

Additionally, with the conclusion of the Faster Adoption and Manufacture of Hybrid and Electric Vehicles (FAME II) subsidy at the end of the current month, the Electric Mobility Promotion Scheme 2024 provides a crucial extension period. It bridges the gap until any potential future government subsidies for electric vehicles come into effect. As a point of reference, the FAME II subsidy remains available until March 31st or until the allocated budget of Rs. 11,500 crore is depleted.

Over the preceding years, both national and state-level subsidies have played a pivotal role in incentivizing EV adoption. However, the state subsidies have gradually phased out over time, emphasizing the significance of ongoing central government support initiatives.