– Electric scooters get R. 10,000 benefit
A total of 3,33,387 scooters will be included in this scheme
– The new EMPS is valid from 1 April to 31 July
The Ministry of Heavy Industries has launched the Electric Mobility Promotion Scheme 2024. It comprises a total amount of Rs. 500 crore and Rs. 333.39 crore, which has been allotted for electric two-wheelers.
The remaining amount is split between commercial and personal electric three-wheelers. Speaking of electric scooters, each will benefit from Rs. 10,000, which translates to a total of 3,33,387 units being eligible for the EMPS (Electric Mobility Promotion Scheme) 2024. The EMPS is valid only from 1 April to 31 July.
The newly introduced scheme should aid in the push for EV sales to all, manufacturers, dealerships, and the end buyer. Moreover, the FAME II subsidy concludes at the end of this month, so the Electric Mobility Promotion Scheme 2024 acts as an additional timeframe before we get to know whether there is another government subsidy in place for electric vehicles in the future.
For reference, the FAME II subsidy is available till 31 March or till the budget of Rs. 11,500 crore sustains. Over the past few years, numerous buyers have benefited from it as well as the state subsidies. However, the latter phased out over time.