The FEM scheme was launched by the central government to subsidize the use of electric vehicles. His second term (Fam-Two) ended in April. Then electric mobility…
The FEM scheme was launched by the central government to subsidize the use of electric vehicles. His second term (Fam-Two) ended in April. Then another scheme called Electric Mobility Promotion Scheme 2024 (EMPS 2024) was introduced by the Union Ministry of Heavy Industries. Which expires in July. But now with relief the project has been extended by two more months.
Under the EMPS scheme, the initial allocation was Rs. 500 crore. The Center increased it to Tk 778 crore till September. As a result, buyers will get subsidy till September if they buy two-wheeler and three-wheeler electric vehicles. In case of electric scooter or motorcycle, the maximum amount is Tk 10,000. On the other hand, a subsidy of up to Rs 50,000 will be available on the purchase of a battery-powered three-wheeler.
However, this money will not directly enter into the customer's account. It will be deducted from the ex-showroom price as a discount. The manufacturers will then collect the subsidy from the Union Ministry of Heavy Industries. Subsidy will be applicable only on electric vehicles which are manufactured on Indian soil.
While announcing the EMPS scheme, the government said it will provide subsidy on 3.33 lakh electric two-wheelers and over 41,000 EV three-wheelers. As the duration of the project extended, so did the number of assisted vehicles. The government will subsidize a total of 5.61 lakh electric vehicles. Out of which there are 5,00,080 two wheelers and 60,709 three wheelers.
