Heavy Industries Ministry launches electric mobility promotion scheme to accelerate EV adoption
Mar 13, 2024
New Delhi [India], March 13 : The Ministry of Heavy Industries, Government of India, has introduced the Electric Mobility Promotion Scheme 2024 (EMPS 2024) with a total outlay of Rs 500 crore allocated for a period of four months, from April 1 to July 31, in a significant move to bolster the adoption of electric vehicles (EVs) across the nation.
According to a press release by the Ministry of Heavy Industries, the scheme aims to expedite the transition towards green mobility and bolster the development of the electric vehicle manufacturing ecosystem in the country.
EMPS 2024 targets the promotion of electric two-wheelers (e-2W) and three-wheelers (e-3W), catering primarily to those vehicles registered for commercial purposes.
However, privately or corporately owned e-2Ws will also be eligible under the scheme, aligning with the broader objective of providing affordable and eco-friendly transportation options for the masses.
The scheme includes incentives for electric 2W and 3W vehicles, including registered e-rickshaws, e-carts, and L5 category e-3W.
The total fund requirement for this component amounts to Rs 493.55 crore.
This component covers Information, Education & Communication (IEC) activities and the fee for Project Management Agency, requiring a total fund allocation of INR 6.45 crore.
EMPS 2024 aims to support 3,72,215 EVs, comprising 3,33,387 e-2Ws and 38,828 e-3Ws, including 13,590 e-rickshaws and e-carts, and 25,238 e-3Ws in the L5 category.
The scheme incentivizes vehicles fitted with advanced battery technology to encourage the adoption of cutting-edge solutions in the EV sector.
Aligned with the vision of Aatma-Nirbhar Bharat (self-reliant India), EMPS 2024 aims to foster an efficient, competitive, and resilient EV manufacturing industry in the country.
Through the implementation of the Phased Manufacturing Programme (PMP), the scheme seeks to promote domestic manufacturing and strengthen the EV supply chain, thereby creating significant employment opportunities along the value chain.
The Ministry of Heavy Industries will issue notifications and guidelines for EMPS 2024 separately, outlining the detailed framework and procedures for availing benefits under the scheme.
