Revealing the Electric Mobility Promotion Scheme (EMPS) 2024 India
The Ministry of Heavy Industries has introduced the Electric transportation Promotion Scheme (EMPS) 2024, therefore significantly augmenting India’s green transportation aspirations. This program seeks to hasten the acceptance of electric cars (EVs) and build a strong EV manufacturing base in the nation.
EMPS 2024: Accelerator of Electric Mobility
Comprising four months, starting on April 1, 2024, and ending on July 31, 2024, the EMPS 2024 plan has an allocated budget of Rs. 500 crore. The plan is meant to give the EV sector boost, therefore promoting sectoral development.
Main elements of EMPS 2024
The program consists on three main groups of electric cars:
With a maximum support of 3,33,387 cars and an allotted budget of Rs. 333.39 crore, E-2W (Electric Two-Wheelers)
Including e-Rickshaws and e-Carts, with a maximum support of 13,590 vehicles and an allotted budget of Rs. 33.97 crore, E-3W, Electric Three-Wheelers
With a maximum support of 25,238 cars and an allotted expenditure of Rs. 126.19 crore, L5 category E-3W, Electric Three-Wheelers
Eligibility and Motivation
EVs must be manufactured and registered within the validity period of EMPS 2024 to be qualified for incentives under it. Per the bifurcation shown above, the total compensation under the demand incentive is capped at Rs. 493.55 crore. Under the system, claims made will be rewarded first come, first served.
Goals and Advantageous Results
The EMPS 2024 plans to:
Encourage the acceptance of electric cars to help to lower reliance on fossil fuels and hence lessen environmental damage.
Promote the growth of a strong EV manufacturing ecosystem right in India.
Offer incentives for EV purchases, hence increasing their availability to consumers.
At last
A major turning point in India’s path towards a sustainable transport future comes with the Electric Mobility Promotion Scheme (EMPS) 2024. The program seeks to quicken the expansion of the EV sector by offering incentives for manufacturing and adoption, hence lowering environmental pollution and dependency on fossil fuels. EMPS 2024 would be vital in determining the green mobility scene of India as it keeps adopting electric mobility.
