In a move to support the EV culture in India, the government has extended the dates of the Electric Mobility Promotion Scheme (EMPS). It was scheduled to conclude on July 31, this year. Now, the dates have been pushed by two more months, ending on September 30, 2024.
Benefits
Interested customers still have time to enjoy the subsidy benefits on electric vehicles. The updated EMPS offers subsidies on EVs up to Rs 10,000 for two-wheelers, up to Rs 25,000 for a small electric three-wheeler, and up to Rs 50,000 for large three-wheeler EVs.
Purpose
The Ministry of Heavy Industries launched the EMPS in March 2024 to support over 5,60,789 battery-powered vehicles in the country. Initially, the government included over 3,33,387 electric two-wheelers in the scheme benefits, which was increased to 5,00,080. It also includes 60,709 electric 3-wheelers such as e-rickshaws and e-carts.
Budget Allocation
To support the initiative, the government has also increased the budget for the same. Earlier, it was Rs 500 crore, which now has been updated to Rs 778 crore. It aims to move masses from using fuel-powered vehicles to shifting to EVs.
The updatation has been done to push the green initiatives and encourage the growth of battery-powered vehicle manufacturing in the country.
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