EMPS 2024: ₹500 crore scheme to boost EV adoption starts today; check details

With effect from today, April 1, the Electric Mobility Promotion Scheme (EMPS 2024) has come into effect to accelerate the adoption of electric vehicles (EVs) in India. The scheme has a total outlay of ₹500 crore.

Under the scheme, the government intends to incentivise around 3.72 lakh EVs, purchased within a period stretching from April 1 to July 31, 2024. The policy succeeds the second phase of the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme, which ended on March 31, 2024.

What does EMPS 2024 offer?

The scheme will be applicable on electric two-wheelers (e-2W) and electric three-wheelers (e-3W), including registered e-rickshaws, e-carts, said the Ministry of Heavy Industries, which has launched it.

“With greater emphasis on providing affordable and environment-friendly public transportation options for the masses, the scheme will be applicable mainly to those e-2W and e-3Ws registered for commercial purposes. Further, in addition to commercial use, privately or corporate-owned registered e-2W will also be eligible under the scheme,” it said.

How much incentive is being offered?

• For the purchase of two-wheeler EVs, an incentive of ₹10,000 per vehicle will be offered.
• The incentive amount is higher, ₹25,000, for the purchase of three-wheeler EVs such as e-rickshaws and e-carts.
• The maximum incentive of ₹50,000 will be provided for buying larger three-wheeler EVs, which fall under the L5 category. L5 refers to those three-wheeler EVs whose maximum speed exceeds 25 kmph or motor power exceeds 0.25kW.

What are the target numbers?

The scheme aims to support 3,72,215 EVs including 3.33 lakh e-2Ws and 38,828 e-3Ws. Within the three-wheeler category, the scheme will support 13,590 e-rickshaws and e-carts, and 25,238 e-3W that are categorised under L5.

The benefits of incentives will be extended to only those vehicles which are fitted with advanced batteries, an official release clarified.