Electric Mobility Promotion Scheme (EMPS) 2024

Subject: Schemes

Section: Economy

Current Issue:

Manufacturers of e2Ws and e3Ws are in confusion regarding the continuation of discounts for customers under the EMPS 2024.
The scheme is set to commence on April 1.
However, the portal for companies to register their certificates to avail of subsidies is not ready.
Without the portal, companies cannot pass on the benefits to customers, potentially impacting sales.
OEMs (Original Equipment Manufacturers) are worried about offering discounts without clarity.

Electric Mobility Promotion Scheme 2024

Aim and Objective:

The scheme aims to accelerate the adoption of Electric Vehicles (EVs) across the country.
It seeks to provide a boost to the development of the electric vehicle manufacturing ecosystem.
Accelerate adoption of EVs, particularly in the two-wheeler and three-wheeler segments.
Support the growth of the EV manufacturing ecosystem.
Promote affordable and environmentally friendly public transportation.
Encourage the use of advanced battery technologies in EVs.

Financial Allocation:

The scheme is a fund-limited initiative with a total outlay of Rs. 500 crore.
The duration of the scheme is for a period of 4 months, starting from 1st April 2024 till 31st July 2024.

Targeted Vehicles:

Focus on faster adoption of:
- Electric Two-Wheelers (e-2W)
- Electric Three-Wheelers (e-3W)
- This includes registered e-rickshaws, e-carts, and L5 category e-3W vehicles.
Eligibility Criteria:
- The scheme mainly applies to e-2W and e-3W vehicles registered for commercial purposes.
- Additionally, privately or corporately owned registered e-2W vehicles are also eligible.
Advanced Technology Incentives:
- Incentives will be provided to vehicles fitted with advanced battery technologies.
- This move aims to encourage the adoption of cutting-edge EV technologies.
Nodal Ministry:
- The scheme is under the purview of the Ministry of Heavy Industries.

Benefits for Stakeholders:

Consumers:
- Access to affordable electric two-wheelers and three-wheelers.
- Reduced operating costs and environmental impact.
Manufacturers:
- Increased demand and market penetration for EV models.
- Opportunity to contribute to India’s green mobility goals.
Government:
- Promotes the “Make in India” initiative by boosting local EV manufacturing.
- Contributes to reducing carbon emissions and achieving environmental sustainability targets.