New Rs 500 crore scheme to promote electric mobility kicks in from April 1

Under EMPS 2024, customers will be provided with a support of up to ₹10,000 per two-wheeler. Check complete details below

EMPS replaces the Faster Adoption & Manufacturing of Electric Vehicles in India (FAME II) programme. “The manufacturers comprehensive warranty will have to cover the EV battery, the most crucial component of the vehicle, besides ensuring that there are adequate facilities for after-sales service for the life of sold vehicles,” a senior government official told ET.

IFC to invest ₹600 crore in Mahindra & Mahindra subsidiary firm NewCo

JSW Group plans to invest $4.82 billion to establish electric vehicle and battery manufacturing projects in Odisha. The conglomerate, which formed a joint venture with China's SAIC Motor in November, aims to compete with domestic and international players in India's growing EV market. The government hopes to achieve a 30% share of electric car sales by 2023.

Budget 2024: Additional funds for FAME II can be sought in a vote on account, said a person aware of the matter. The extension would not require multiple approvals as needed for a fresh scheme and will help maintain momentum in the market in the interim, he added. Next year's budget will be a vote on account as general elections are due in April-May.

Instead of the FameII scheme the benefits may be given through the productionlinked incentive PLI scheme

New Delhi [India], March 13 (ANI): The Ministry of Heavy Industries, Government of India, has introduced the Electric Mobility Promotion Scheme 2024 (EMPS 2024) with a total outlay of Rs 500 crore allocated for a period of four months, from April 1 to July 31, in a significant move to bolster the adoption of electric […]

The Indian government has clarified that it has not extended the FAME-II scheme beyond March 31. There were media reports suggesting a temporary four-month extension till July 31 with a Rs 500 crore outlay, but officials denied the extension and stated that subsidies would be eligible for EVs sold until March 31, 2024, or until funds are available.

The government has begun working on the third phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME III) financial support scheme, which is likely to cover hydrogen-powered vehicles, additional support for electric three-wheelers and a curtailed version for two-wheelers, said officials.