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Electric Mobility Promotion Scheme 2024

Electric Mobility Promotion Scheme 2024

Source: PIB
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Overview

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  1. Electric Mobility Promotion Scheme (EMPS), 2024
  2. Details of EMPS 2024

Why in the News?

Ministry of Heavy Industries has launched the Electric Mobility Promotion Scheme (EMPS) – 2024

 

Electric Mobility Promotion Scheme (EMPS), 2024

What is EMPS 2024?

  • To provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing eco-system in the country.
  • The Scheme duration is 4 months i.e. April 01, 2024, till July 31, 2024, with an outlay of Rs. 500 crore.

Details of EMPS 2024

  • EMPS 2024 is fund-limited, with a restricted number of vehicles and a term-limited Scheme, i.e., the subsidies for demand incentives are eligible for 2-wheeler electric(e-2w) and 3-wheeler electric(e-3w) sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise (shown in para above) or until July 31, 2024, whichever comes first.
  • The EVs eligible for incentivisation under the EMPS 2024 scheme must be manufactured and registered within the validity period of the EMPS -2024 certificate.
  • The total payout under the demand incentive is limited to Rs. 493.55 crore as per the bifurcation provided above.
  • In case the funds for the Scheme or its relevant sub-components are exhausted before 31st July 2024, then the Scheme or its relevant sub-components will be closed accordingly, and no further claims will be entertained under the EMPS 2024.
  • The claims submitted under the scheme will be incentivised on a first come first serve basis.

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