Electric Mobility Promotion Scheme 2024
Source: PIB
GS II: Important International institutions, agencies and fora- their structure, mandate
Overview
- Electric Mobility Promotion Scheme (EMPS), 2024
- 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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