Electric Mobility Promotion Scheme (EMPS) 2024

Electric Mobility Promotion Scheme (EMPS) 2024

Overview
The Electric Mobility Promotion Scheme (EMPS) 2024 was recently announced by the Central Government to boost green mobility and strengthen the EV manufacturing ecosystem in India.

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Key Features

1. Objective:
   • Accelerate the adoption of electric vehicles (EVs).
   • Promote green mobility and develop the EV manufacturing ecosystem.
2. Funding and Duration:
   • Total outlay of ₹500 crore.
   • Scheme duration: April 1, 2024, to July 31, 2024 (4 months).
3. Eligible EV Categories:
   • Two-wheelers (e-2W).
   • Three-wheelers (e-3W), including e-rickshaws, e-carts, and L5 category vehicles.
   • Vehicles must be:
     • Registered for commercial purposes, or
     • Privately or corporate-owned e-2Ws.
4. Technology Focus:
   • Incentives will apply only to vehicles fitted with advanced batteries.
   • EVs must be manufactured and registered during the scheme's validity period.

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Components

1. Subsidies:
   • Demand incentives provided through an upfront reduction in the purchase price of EVs.
   • Subsidy rate: ₹5,000 per kWh, reimbursed to Original Equipment Manufacturers (OEMs) by the government.
2. Administrative Support:
   • Includes Information, Education, and Communication (IEC) activities.
   • Fee support for the Project Management Agency (PMA).

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Nodal Ministry The scheme will be implemented by the Ministry of Heavy Industries.

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Key Takeaways
The EMPS 2024 is a step towards fostering a sustainable and eco-friendly transportation system while bolstering the domestic EV industry. By offering subsidies and encouraging advanced battery technologies, the scheme supports India's commitment to green mobility and addresses its climate action goals.

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