Electric Mobility Promotion Scheme 2024 explained. Rs 500 crore boost for e2W, e3W segments

To further accelerate the adoption of electric vehicles (EVs) in the country, the government today announced the introduction of Electric Mobility Promotion Scheme 2024 (EMPS 2024) with a total outlay of Rs 500 crore for the electric two-wheeler and three-wheeler segments.

Being launched by Ministry of Heavy Industries, EMPS 2024 is a fund-limited scheme for four months, from April 1, 2024, till July 31, 2024. In a fund-limited scheme, the cost is usually restricted to the approved amount.

Under EMPS 2024, electric two-wheelers and three-wheelers, including registered electric rickshaws and electric carts, and L5 models, will be eligible for subsidies or demand incentives.

For reference, the L5 category of electric three-wheelers includes models with a maximum speed of more than 25kmph and motor power of over 0.25kW. The gross vehicle weight (GVW) of these models, without the weight of traction batteries, is up to 1,500kg.

Of the total outlay of Rs 500 crore, Rs 493.55 crore has been earmarked for subsidies or demand incentives for electric two-wheelers and three-wheelers, while Rs 6.45 crore has been set aside for the administration of the scheme, including information, education and communication activities, and project management agency fee.

EMPS 2024 aims to support 372,215 EVs, including 333,387 electric two-wheelers and 38,828 electric three-wheelers — 13,590 electric rickshaws and electric carts, and 25,238 L5 models.

Moreover, the government will offer incentives under EMPS 2024 only to those EVs that are fitted with advanced batteries.

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