Context: The Electric Mobility Promotion Scheme 2024 (EMPS 2024), a ₹500 crore scheme to promote electric mobility in India will come into force from April 1. The scheme will continue till the end of July.
About Electric Mobility Promotion Scheme 2024 (EMPS 2024)
- Launched in: 2024
- Extended till: July’24
- Nodal ministry: Ministry of Heavy Industries
- Aim: For faster adoption of electric two-wheeler (e-2W) and three-wheeler (e-3W) to provide further impetus to the green mobility and development of EV manufacturing ecosystem in the country.
- Eligibility: Scheme will be applicable mainly to those e-2W and e-3Ws (including e-rickshaws, e-carts and L5 category vehicles) registered for commercial purposes.
- Further, in addition to commercial use, privately or corporate owned registered e-2W will also be eligible under the scheme.
- Components:
- Subsidies/Demand Incentive: Incentive for electric 2W (e-2W) and electric 3 W including registered e-rickshaws & e-carts and L5 (e-3W)
- Administration of scheme: Including IEC (Information, Education & Communication) activities and fee for Project Management Agency
- Key features: The second phase of Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme, ends in 2024. Subsidies under the FAME scheme will be eligible for e-vehicles sold till March 31, or till the time funds are available.
- Under the scheme, customers will be provided with a support of up to ₹10,000 per 2-wheeler with the aim is to provide support for about 3.33 lakh two-wheelers.
- For the purchase of small 3-wheelers support of up to ₹25,000 will be given and over 41,000 such vehicles will be provided incentives under the scheme.
- The financial support will be up to ₹50,000 in case of a large three-wheeler, as per the scheme.
- Significance: The Scheme promotes an efficient, competitive and resilient EV manufacturing industry in the country thereby promoting the vision of Aatma-Nirbhar Bharat.
- For this purpose, Phased Manufacturing Programme (PMP) has been adopted which encourages domestic manufacturing and strengthening off EV supply chain. This shall also create significant employment opportunities along the value chain.