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New INR 500 Cr Scheme To Promote E-Mobility Kicks Off Today

Inc42 · 1y

The Indian Ministry of Heavy Industries has launched the INR 500 Cr Electric Mobility Promotion Scheme 2024 (EMPS 2024) to support the adoption of electric vehicles (EVs) in the country. The four-month scheme, which started on April 1, aims to promote the use of electric two-wheelers and three-wheelers by providing subsidies of up to INR 10,000 and INR 25,000 respectively. It also aims to accelerate the development of the EV manufacturing ecosystem and create employment opportunities. The EMPS 2024 scheme follows a temporary four-month extension granted to the second phase of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme, with an additional outlay of INR 500 Cr.