Centre extends EV subsidy scheme EMPS to September-end
Electric Mobility Promotion Scheme (EMPS) 2024 by two months from July 31 to September-end. The scheme's outlay has also been enhanced to Rs. 778 crore from the initial Rs 500 crore meant for subsidising sale of electric two and three wheelers, an official statement said.
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The EMPS scheme was originally set to run from April 1, 2024, to July-end. Under the scheme, electric vehicle (EV) buyers can get a subsidy up to worth Rs 10,000 per two-wheeler and Rs 50,000 per three-wheeler. Companies sell the locally made vehicles at a discount to buyers and later claim subsidies from the Ministry of Heavy Industries.
EMPS was introduced to continue supporting sales of clean energy powered vehicles after lapse of the Faster Adoption & Manufacturing of Electric Vehicles (FAME) subsidy scheme on March 31, 2024.
Target numbers under the scheme have also been raised upwards to 5.61 lakh EVs from 3.72 lakh initial goals. The revised goals includes 500,080 electric two-wheelers (e-2Ws) and 60,709 electric three-wheelers (e-3Ws), the statement added.
ET reported earlier this month that the centre is confident of achieving its targets under EMPS on the back of robust EV sales. Hero Motocorp, Bajaj, TVS, Ather, Ola, and Kinetic Green are among the EV makers who have got approvals to sell vehicles and claim EMPS subsidy.
FAME scheme had a phased manufacturing programme (PMP) that
