The government is continuously supporting electric mobility in the country. In this series, a new scheme of Rs 500 crore is going to be implemented from April 1, 2024 to promote electric vehicles in the country. This scheme will continue till the end of July 2024. According to language news, to further accelerate the adoption of electric vehicles (EV) in the country, the Ministry of Heavy Industries has launched Rs 500 crore Electric Transport Promotion Scheme 2024 (EMPS 2024). Under EMPS 2024, assistance up to Rs 10,000 per two-wheeler will be provided. Its aim is to provide assistance to approximately 3.33 lakh two-wheelers.
Meanwhile, the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME-2) program in the country has ended on March 31, 2024. Subsidy under the FAME scheme was available for electric vehicles sold till March 31 or until funds are available.
This much discount will be available under the new scheme
Assistance up to Rs 25,000 will be provided on the purchase of small three-wheelers (e-rickshaws and e-carts). Under the scheme, incentives will be provided to more than 41,000 such vehicles. In case of large three-wheeler, financial assistance will be up to Rs 50,000. EMPS 2024 is a fund limited period scheme. In this, a total expenditure of Rs 500 crore will be made for four months i.e. from April 1, 2024 to July 31, 2024 for faster adoption of electric two-wheelers (E-2W) and three-wheelers.
3,72,215 electric vehicles will get support
The Ministry of Heavy Industries announced this on March 13 to further accelerate the development of green transportation system and electric vehicle manufacturing ecosystem in the country. The scheme aims to support 3,72,215 electric vehicles. The ministry had said that to encourage advanced technologies, the benefit of incentives will be given only to those vehicles fitted with advanced batteries. This scheme is also expected to generate a large number of jobs.
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