New EMPS 2024 Scheme starting from April 1, 2024, and concluding on July 31, 2024
In a significant push for green mobility, the Indian government has launched the Electric Mobility Promotion Scheme 2024 (EMPS 2024). This initiative aims to accelerate the adoption of electric vehicles (EVs) across the country, particularly focusing on two-wheelers (e-2W) and three-wheelers (e-3W).
Boosting Green Initiatives:
Approved by the Department of Expenditure and implemented by the Ministry of Heavy Industries, EMPS 2024 comes with a total outlay of ₹500 crore. The scheme will be operational for a limited period of four months, starting from April 1, 2024, and concluding on July 31, 2024.
Targeting Faster Adoption:
EMPS 2024 prioritizes providing incentives for the purchase of electric two-wheelers and three-wheelers, including registered e-rickshaws, e-carts, and L5 category e-3Ws. This focus on these segments aims to make EVs a more attractive option for budget-conscious consumers and commercial users alike.
Encouraging Advanced Technology:
The scheme emphasizes promoting the development of the domestic EV ecosystem. To achieve this, the government will only extend financial benefits to EVs equipped with advanced batteries. This approach aims to incentivize manufacturers to invest in cutting-edge battery technology, leading to longer range, improved performance, and ultimately, a more sustainable future for electric mobility in India.
Bridging the Gap:
EMPS 2024 succeeds the FAME II(Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) scheme, which concluded in March 2024. This new scheme aims to bridge the gap and ensure continued support for EV adoption until a more permanent solution is established.
The launch of EMPS 2024 signifies the Indian go
vernment’s commitment to promoting clean transportation and developing a robust domestic EV industry. By offering targeted incentives and encouraging technological advancements, this scheme has the potential to significantly accelerate India’s transition towards a greener future.
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