Ministry of Heavy Industries has issued press release to publicize the Electric Mobility Promotion Scheme (EMPS) – 2024 to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing eco-system in the country. The Scheme duration is 4 months i.e. April 01, 2024 till July 31, 2024 with an outlay of Rs. 500 crore.
EMPS 2024 is fund limited, with restricted number of vehicles and a term-limited Scheme, i.e., the subsidies for demand incentive are eligible for e-2w and e-3w sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise or until July 31, 2024, whichever comes first. The EVs eligible for incentivisation under EMPS 2024 scheme must be manufactured and registered within the validity period of EMPS -2024 certificate.
Total payout under the demand incentive is limited to Rs. 493.55 crore as per bifurcation provided above. In case the funds for the Scheme or its relevant sub-components are exhausted prior to 31st July 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 first come first serve basis.
