India Extends Electric Mobility Promotion Scheme 2024 Until September 30
The central government of India has extended the ‘Electric Mobility Promotion Scheme 2024’ by two months, now running until September 30, according to the Ministry of Heavy Industries. The total budget for the scheme has been increased to Rs 778 crore.
About the Scheme
The Electric Mobility Promotion Scheme 2024 (EMPS 2024) was launched on March 13, 2024, to encourage the use of electric vehicles (EVs) across India. Initially set to run from April 1 to July 31, 2024, with a budget of Rs 500 crore, the scheme has now been extended and revised.
Subsidies and Targets
Under the scheme, buyers can receive subsidies of up to Rs 10,000 for two-wheeler EVs, up to Rs 25,000 for small three-wheeler EVs, and up to Rs 50,000 for large three-wheeler EVs. The scheme aims to support 560,789 EVs, including 500,080 electric two-wheelers and 60,709 electric three-wheelers. This includes 13,590 rickshaws and e-carts, and 47,119 e-3Ws in the L5 category.
Focus on Advanced Technologies
Incentives will be available only for EVs equipped with advanced batteries. The scheme is fund-limited and targets specific numbers for each category of EVs.
Eligibility
The scheme primarily targets commercial use but also includes privately or corporately owned registered e-2Ws. The goal is to provide affordable and environmentally friendly public transportation options.
Doubts Revealed
Electric Mobility Promotion Scheme -: This is a plan by the Indian government to encourage people to use electric vehicles (EVs) by giving them financial help or subsidies.
Subsidies -: Subsidies are financial help given by the government to make things cheaper for people. In this case, it helps make electric vehicles more affordable.
Two-wheeler and three-wheeler EVs -: Two-wheeler EVs are electric bikes or scooters, and three-wheeler EVs are electric auto-rickshaws or small electric vehicles with three wheels.
Rs 778 crore -: This is the amount of money the government is spending on the scheme. Rs stands for Indian Rupees, and 778 crore means 7,780,000,000 rupees.
Advanced battery technologies -: These are new and improved types of batteries that can store more energy, last longer, and charge faster, making electric vehicles better.
Commercial use -: This means using the electric vehicles for business purposes, like delivery services or public transport, rather than for personal use.
Privately owned registered EVs -: These are electric vehicles that are owned by individuals for personal use and are officially registered with the government.
