In an electrifying move, the Ministry of Heavy Industries has announced the launch of the Electric Mobility Promotion Scheme 2024 (EMPS 2024), a bold initiative aimed at supercharging India’s green mobility dreams. With a juicy fund of Rs. 500 crore ready to spark up the market, this scheme is all set to roll from 1st April to the blissful end of July 2024.
Geared towards electrifying the streets with cleaner, greener electric two-wheelers (e-2W) and three-wheelers (e-3W), EMPS 2024 is India’s latest jolt of energy to promote electric vehicle manufacturing and accelerate the country’s shift towards sustainable transportation. The Government of India, under the aegis of the Ministry of Heavy Industries and with a nod from the Department of Expenditure, Ministry of Finance, is revving up to make this four-month-long gala a milestone in India’s EV journey.
Who Gets the Charge?
Diving into the details, EMPS 2024 isn’t just for anyone looking to ride the electric wave. It’s especially designed for those e-2Ws and e-3Ws that are registered for commercial trotting. That said, private and corporately owned e-2Ws aren’t left behind and are also eligible to tap into the scheme’s electrifying benefits.
The Electric Dream:
With an ambition to support 3,72,215 EVs, including a whopping 3,33,387 e-2Ws and 38,828 e-3Ws (of which 13,590 are rickshaws & e-carts, and 25,238 fall under the L5 category), the scheme is all about advancing technologies and incentivizing vehicles fitted with the latest in battery innovation.
Aatma Nirbhar Bharat: Charging Towards Self-Reliance
In sync with Prime Minister’s vision of Aatma-Nirbhar Bharat, EMPS 2024 is not just about electrification. It’s a drive towards creating a robust, efficient, and self-reliant EV manufacturing industry. By adopting a Phased Manufacturing Programme (PMP), the scheme is set to energize domestic manufacturing, strengthen the EV supply chain, and create a plethora of employment opportunities.
Fueling the Future:
With a budget that breaks down to INR 493.55 crore earmarked for subsidies and demand incentives, and another INR 6.45 crore allocated for the administration of the scheme, EMPS 2024 is all charged up to make India’s electric mobility vision a reality. So, gear up, India! The future of transportation is electric, and it’s time to ride the green wave with EMPS 2024.
