The Government of India has extended the Electric Mobility Promotion Scheme (EMPS) 2024 by two months, from its initial end date of July 31 to September 30, 2024. Additionally, the budget for the scheme has been increased from Rs. 500 crore to Rs. 778 crore.
The Electric Mobility Promotion Scheme (EMPS) 2024 is an initiative by the Ministry of Heavy Industries, Government of India, to promote the adoption of electric vehicles (EVs) across the country. The scheme initially launched on April 1, 2024, with an outlay of Rs. 500 crore for a period of four months, ending on July 31, 2024. However, it has now been extended to September 30, 2024, with an enhanced outlay of Rs. 778 crore.
EMPS 2024 Key Objectives:
- Faster Adoption of EVs: Encourage the transition to electric two-wheelers (e-2Ws) and electric three-wheelers (e-3Ws), including registered e-rickshaws, e-carts, and L5 category vehicles.
- Green Mobility: Promote environmentally friendly transportation options and contribute to India’s sustainability goals.
- EV Manufacturing Ecosystem: Support the development and growth of the electric vehicle manufacturing ecosystem in India.
- Advanced Technologies: Incentivize the use of advanced battery technologies in electric vehicles.
- Phased Manufacturing Programme (PMP): Encourage domestic manufacturing and strengthen the EV supply chain in India.
- Employment Generation: Create significant employment opportunities along the electric vehicle value chain.
EMPS 2024 Benefits:
- Subsidies: The scheme provides incentives to buyers of electric two-wheelers and three-wheelers, making them more affordable.
- Technology Advancement: Encourages the use of advanced battery technologies, leading to more efficient and longer-lasting EVs.
- Domestic Manufacturing: Promotes local production of EV components, contributing to the growth of the Indian manufacturing sector.
EMPS 2024 Target:
The EMPS 2024 scheme has now been revised to target the support of 560,789 electric vehicles, including 500,080 electric two-wheelers and 60,709 electric three-wheelers.