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Source-This post on Electric Mobility Promotion Scheme has been created based on the article “Electric Mobility Promotion Scheme (EMPS), 2024” published in “PIB” on 24 July 2024.
Why in the news?
The Ministry of Heavy Industries has launched the Electric Mobility Promotion Scheme (EMPS) – 2024. Its duration is 4 months i.e. April 01, 2024 till July 31, 2024 with an outlay of Rs. 500 crore.
About Electric Mobility Promotion Scheme
Objective-
A) To accelerate the adoption of electric two-wheelers (e-2W) and three-wheelers (e-3W, including registered e-rickshaws and e-carts).
B) To bolster green mobility and the EV manufacturing ecosystem in the country.
Key Features-
1) It has a limited fund and a specific duration. It provides subsidies for e-2w and e-3w vehicles until funds are exhausted or until July 31, 2024, whichever comes first.
2) EVs eligible for incentives must be manufactured and registered within the EMPS 2024 validity period.
3) To promote advanced technologies, incentives will only apply to vehicles equipped with advanced batteries.
4) If funds for the scheme deplete before July 31, 2024, it will be closed, and no further claims will be accepted under EMPS 2024. Claims will be processed on a first-come, first-served basis.
Read More-Adoption of EVs: Challenges and Solutions
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