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

The heavy industries ministry on Wednesday 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 2-wheelers and 3-wheelers. The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024.

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 Rs 10,000 per 2-wheeler will be provided.

The aim is to provide support for about 3.3 lakh 2-wheelers.A support of Rs 25,000 will be given for purchase of small three-wheelers (e-rickshaw and e-carts). More than 31,000 such vehicles will be covered.

The financial support will be 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.