EMPS to Support Up to 3.7 Lakh EVs, States MHI
The Ministry of Heavy Industries (MHI) has announced further update on Electric Mobility Promotion Scheme (EMPS) 2024 to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing ecosystem in the country.
July 24, 2024. By Aishwarya
The scheme duration has been 4 months, i.e., April 01, 2024, till July 31, 2024, with an outlay of INR 500 crore.
The breakdown of scheme outlay for the duration April 1, 2024, till July 31, 2024, in terms of fund allocation and maximum number of vehicles to be supported sub-component-wise, is as follows: For electric two-wheelers (E2W), a maximum of 3,33,387 vehicles will be supported with a total outlay of INR 333.39 crore.
For electric three-wheelers, specifically e-rickshaws and e-carts (E3W), a maximum of 13,590 vehicles will be supported with a total outlay of INR 33.97 crore.
Additionally, for electric three-wheelers in category L5 (E3W: L5), a maximum of 25,238 vehicles will be supported, with a total outlay of INR 126.19 crore.
In total, these categories account for the support of 3,72,215 electric vehicles with a combined outlay of INR 493.55 crore.
“EMPS 2024 is fund-limited, with a restricted number of vehicles and a term-limited Scheme, i.e., the subsidies for demand incentives are eligible for E2W and E3W sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise (shown in para above) or until July 31, 2024, whichever comes first. The EVs eligible for incentivisation under the EMPS 2024 scheme must be manufactured and registered within the validity period of the EMPS -2024 certificate,” stated MHI.
The total payout under the demand incentive is limited to INR 493.55 crore as per the bifurcation provided above. In case the funds for the Scheme or its relevant sub-components are exhausted prior to July 31, 2024, then the scheme or its relevant sub-components will be closed accordingly, and no further claims will be entertained under the EMPS 2024. The claims submitted under the scheme will be incentivised on a first come first serve basis.
please contact: contact@energetica-india.net.
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