The Union Government is focusing on electric vehicles and launched the Electric Mobility Promotion Scheme (EMPS) 2024. Through this scheme, the center going to promote the sales of two-wheeler, three-wheeler, and e-rickshaws. Here are the details about this scheme and how it going to benefit the electric vehicle industry in the upcoming four months.

Electric Mobility Promotion Scheme 2024 with ₹500 crore

As per the details, the Electric Mobility Promotion Scheme (EMPS) 2024 will be in effect from April 1, 2024, and people will benefit from this scheme. Union Government has brought this scheme to promote electric vehicle sales including two-wheelers, three-wheelers, and e-rickshaws. This scheme will be valid for the next four months until July 2024. The Heavy Industries Minister Mahender Nath Pandey has unveiled that the centre has allocated ₹500 crores for the EMPS 2024 and it will be in effect from this April 1, 2024.

Through this scheme, govt is aiming to benefit over 3.3 lakh two-wheelers and will provide ₹10,000 per two-wheeler. Also, the government is aiming to cover up to 31,000 three-wheelers like e-rickshaws and e-carts under this scheme and give financial support of around ₹25,000 on purchase. The large three-wheeler buyers will get the support of ₹50,000.

Union government also allocated funds in the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME-II) scheme to ₹11,500 crore, up from ₹10,000 crore. Under this scheme, the buyer of two-wheelers, three-wheelers, and four-wheelers will get subsidies from the government.

In recent months, it has been noticeable that the government is pushing the electric vehicle industry and it is also beneficial for the environment as well. What do you think about this scheme let us know in the comment below. Stay tuned for the latest business news on Industrial front.

Discover more from industrialfront

Subscribe to get the latest posts to your email.

Leave a comment

Your email address will not be published. Required fields are marked *