The Ministry of Heavy Industries, Govt. of India, on Wednesday (March 13) announced the Electric Mobility Promotion Scheme 2024 to accelerate the adoption of electric vehicles in India.
The fund limited scheme, with an outlay of Rs. 500 crore, will be implemented for four months, beginning April 1, 2024, to July 31, 2024, for the faster adoption of electric two-wheelers (e-2W) and electric three-wheelers (e-3W). MHI noted that greater emphasis will be given to vehicles that provide eco-friendly and affordable public transportation options for the masses, thereby the scheme will be applicable to mainly those e-2Ws and e-3Ws registered for commercial purposes.
Eligible EV categories are:
a) Two Wheelers (electric) (e-2W)
b) Three-wheeler (electric) including registered e-rickshaws & e-carts and L5 (e-3W)
Through the latest scheme, the Indian government aims to support 3,72,215 EVs including e-2W (3,33,387) and e-3W (38,828 including 13,590 rickshaws and e-carts and 25,238 e-3W in L5 category).
"To encourage advanced technologies, the benefits of incentives will be extended to only those vehicles that are fitted with advanced batteries," MHI stated.
The new scheme supplants the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase II, which started in April 2019 and continues till March 31, 2024.
The guidelines and notification for EMPS 2024 will be issued by MHI separately.
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