Electric Mobility Promotion Scheme: EMPS 2024 Eligibility and Subsidy Amount!

India has initiated the Electric Mobility Promotion Scheme (EMPS) 2024 as a significant move towards sustainable transportation. The scheme, operational from April 1, 2024, to July 31, 2024, with a budget of Rs. 500 crore allocated over four months, aims to encourage the adoption of electric two-wheelers (e-2W) and electric three-wheelers (e-3W) for commercial purposes, marking a crucial step towards embracing eco-friendly mobility solutions.

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Led by the Ministry of Heavy Industries, EMPS 2024 aims to accelerate the transition to electric vehicles (EVs) by providing financial subsidies to potential buyers. Focusing primarily on e-2Ws and e-3Ws, the initiative aims not only to reduce carbon emissions but also to stimulate the growing electric vehicle industry in India.

Eligibility Criteria for EMPS 2024:

To benefit from the Electric Mobility Promotion Scheme, applicants must meet certain eligibility criteria:

Vehicle Category: The scheme applies exclusively to electric two-wheelers (e-2W) and electric three-wheelers (e-3W), excluding four-wheelers and electric buses.

Vehicle Specifications: EMPS prioritizes domestically manufactured EVs, requiring adherence to specified localization requirements to bolster the domestic EV industry.

Warranty: EVs must come with a comprehensive warranty, including a 3-year/20,000 km warranty for e-2Ws and a 3-year/80,000 km warranty for e-3Ws, with explicit coverage for the battery.

Battery Technology: Eligible e-2Ws and e-3Ws must be equipped with Lithium-ion batteries.

Registration: Vehicles must be registered for private use, excluding those intended for commercial purposes.

Certification: EVs must be certified for compliance with the latest Amendment to Battery Electric Vehicle Standards.

Ex-factory Price Cap: EVs must adhere to maximum ex-factory price limits.

Application Process for EMPS 2024:

Prospective applicants can apply for the Electric Mobility Promotion Scheme by following these steps:

Vehicle Purchase: Purchase a new e-2W or e-3W that meets the eligibility criteria.

Application Submission: Visit the designated online portal and provide necessary details and documents.

Document Submission: Submit essential documents such as vehicle registration certificate and proof of purchase.

Verification and Approval: Authorities will review and verify the application.

Subsidy Disbursement: Upon approval, the subsidy amount will be directly deposited into the applicant’s bank account.

Subsidy Structure under EMPS 2024:

The scheme offers tiered subsidies based on the type of electric vehicle purchased:

Electric Two-wheeler (e-2W): Subsidy of Rs. 5,000 per kWh, with a maximum subsidy limit of Rs. 10,000.

Small Electric Three-wheeler (e-3W): Up to Rs. 25,000.

Large Electric Three-wheeler (e-3W): Up to Rs. 50,000.

Expected Outcomes of Electric Mobility Promotion Scheme 2024:

EMPS 2024 aims to achieve several positive outcomes:

Increased EV Adoption: The scheme aims to boost sales of e-2Ws and e-3Ws, potentially reaching a targeted 3.72 lakh units.

Economic Benefits: By stimulating demand for EVs, the scheme promotes domestic production, leading to growth in the EV industry and creating job opportunities.

Environmental Impact: By replacing conventional vehicles with EVs, the scheme contributes to reducing air pollution and greenhouse gas emissions.

In summary, the Electric Mobility Promotion Scheme 2024 signifies a significant step towards sustainable transportation solutions in India, demonstrating the country’s commitment to green mobility and the future of electric vehicles. By incentivizing EV adoption, the initiative promotes environmental sustainability, economic growth, and technological innovation in the electric mobility sector.

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