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regular-article-logo Friday, 14 June 2024

Heavy industries ministry announces Rs 500 crore scheme to promote e-mobility in country

Second phase of Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024

Our Special Correspondent New Delhi Published 14.03.24, 09:52 AM
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The heavy industries ministry has announced a new scheme to promote e-mobility in the country with an outlay of Rs 500 crore for four months beginning April 2024. The new scheme is for two-wheelers and three-wheelers.

The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024.

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Announcing E-Mobility Promotion Scheme 2024 (EMPS 2024), heavy industries minister Mahendra Nath Pandey said the Modi government is committed to promoting e-mobility in the country.

The scheme will be for four months till July 2024, the minister said. Under the scheme, a support of up to Rs 10,000 per two-wheeler will be provided. The aim is to provide support for about 3.3 lakh two-wheelers.

A support of up to Rs 25,000 will be given for purchase of small three-wheelers (e-rickshaw and e-carts). More than 41,000 such vehicles will be provided the incentive under the scheme.

The financial support will be up to Rs 50,000 on purchase of a large three-wheeler.

Subsidies under the second phase of the FAME scheme will be eligible for e-vehicles sold till March 31, 2024, or till the time funds are available.

In 2023, India’s electric vehicle (EV) sales reached 1.53 million, which is a 50 per cent increase from 2022. In 2023, 15,26,319 EVs were registered in India.

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