Government Extends EV Subsidy for Two- and Three-Wheelers Until September 30

The Ministry published a gazette notice on March 13, 2024, announcing the commencement of the Electric Mobility Promotion Scheme 2024 (EMPS 2024). The program seeks to increase the nation’s use of electric cars (EVs). Its initial schedule, which called for a total expenditure of Rs 500 crores and ran from April 1 to July 31, 2024, has been changed.

A subsidy advantage of up to Rs 10,000 for two-wheeler EVs, up to Rs 25,000 for a small three-wheeler EV, and up to Rs 50,000 for large three-wheeler EVs is available to customers under the scheme.

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Additionally, the ministry stated that the program is now intended to assist 560,789 electric vehicles (EVs), of which 60,709 are electric three-wheelers (e-3Ws) and 500,080 are electric two-wheelers (e-2Ws). This comprises 47,119 e-3Ws in the L5 category and 13,590 rickshaws and e-carts. Only EVs with cutting-edge batteries will be eligible for incentives designed to encourage innovative technologies. The EVs are regulated to targeted numbers for each category, and the system has a fund limit.