In a bid to accelerate the adoption of electric vehicles (EVs) across the nation, the central government introduced a pioneering scheme with a budget of Rs 500 crore set aside for the initial four months starting April 2024. This initiative comes on the heels of the conclusion of the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) program on March 31, 2024.
Known as the Electric-Mobility Promotion Scheme 2024 (EMPS 2024), the program primarily targets 2-wheelers and 3-wheelers, as emphasized by Heavy Industries Minister Mahendra Nath Pandey during the announcement. Stressing the government’s dedication to bolstering e-mobility, Minister Pandey highlighted that EMPS 2024 will remain in effect until July 2024.
Under EMPS 2024, incentives of up to Rs 10,000 per 2-wheeler and Rs 25,000 for small three-wheelers (such as e-rickshaws and e-carts) will be extended, with an ambitious aim to support approximately 3.33 lakh 2-wheelers and over 41,000 small three-wheelers. Moreover, a substantial financial support of up to Rs 50,000 will be available for the purchase of large three-wheelers.
The scheme will continue to offer subsidies for EVs sold until March 31, 2024, or until the allocated funds are exhausted, ensuring ongoing support for the transition to electric mobility.
The Ministry of Heavy Industries (MHI) inked a Memorandum of Understanding (MoU) with the Indian Institute of Technology, Roorkee, signaling a collaborative effort to drive innovation and progress in the automotive and EV sectors. The joint endeavor aims to establish a Center of Excellence (CoE) and an Industry Accelerator at IIT Roorkee, facilitating groundbreaking projects with the potential to shape the future of transportation.
Supported by a total grant of Rs 19.87 crore from MHI, supplemented by an additional Rs 4.78 crore contributed by industry partners, the project’s total cost stands at Rs 24.66 crore. This collaboration underscores a concerted push towards fostering advancements in the realm of electric mobility, leveraging the collective expertise and resources of both entities.
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