The government has increased by two months an EV subsidy scheme that came into effect after the expiry of the FAME-II regime.
The Electric Mobility Promotion Scheme 2024 will now run until Sept. 30, 2024, as against July 31 earlier, with an enhanced outlay of Rs 778 crore, according to a press statement by the Union Ministry of Heavy Industries. The scheme now aims to support 560,789 EVs— including 5,00,080 electric two-wheelers and 60,709 electric three-wheelers.
The incentives will be available only for EVs equipped with advanced batteries.
“With greater emphasis on providing affordable and environment-friendly public transport for the masses, the scheme will be applicable mainly to those electric two-wheelers and electric three-wheelers registered for commercial purposes,” the statement read.
“Further, in addition to commercial use, privately or corporate-owned registered electric two-wheelers will also be eligible under the scheme.”
On March 13, the central government announced EMPS 2024 ahead of the expiry of the second phase of the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles on March 31. Originally meant for four months through July 31, the scheme had an outlay of Rs 500 crore to support 3,33,387 electric two-wheelers and 13,590 electric three-wheelers.
“It [EMPS 2024] aims to advance the Government of India's green initiatives and foster the growth of the EV manufacturing ecosystem in the country,” the statement read.
“For this purpose, the Phased Manufacturing Programme has been adopted, which encourages domestic manufacturing and strengthening of the EV supply chain. This shall also create significant employment opportunities along the value chain.”
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