Government unveils Electric-Mobility Promotion Scheme 2024 to promote e-mobility

New scheme to push e-mobility: The central government has introduced a new scheme, the Electric-Mobility Promotion Scheme 2024 (EMPS 2024), with a substantial outlay of Rs 500 crore for four months starting April 2024. This initiative, focusing on 2-wheelers and 3-wheelers, aims to fortify the electric vehicle (EV) sector, reinforcing the government's commitment to promoting sustainable transportation. The announcement was made by Heavy Industries Minister Mahendra Nath Pandey, highlighting the government's dedication to fostering e-mobility in the country. EMPS 2024 succeeds the second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program, set to conclude on March 31, 2024.

Under EMPS 2024, substantial financial incentives will be provided to boost the adoption of electric 2-wheelers and 3-wheelers. A support of up to Rs 10,000 per 2-wheeler is aimed at benefitting around 3.33 lakh units. 
Additionally, support of up to Rs 25,000 will be extended for small three-wheelers, encompassing e-rickshaws and e-carts, benefiting over 41,000 such vehicles. The scheme also offers a significant subsidy of up to Rs 50,000 for the purchase of large three-wheelers.

Pandey emphasised that the support provided under the FAME scheme will apply to e-vehicles sold until March 31, 2024, or until the funds are exhausted. The Ministry of Heavy Industries (MHI) also signed a MoU with the Indian Institute of Technology, Roorkee, signaling a collaborative effort to drive innovation and advance the automotive and electric vehicle sector.  The joint initiative aims to establish a Center of Excellence (CoE) and an Industry Accelerator at IIT Roorkee, leveraging the combined expertise and resources of both entities.

With PTI Inputs