NEW DELHI: The ministry of heavy industries announced that the ‘Electric Mobility Promotion Scheme 2024’ has been extended by two months till September 30. It offers subsidies for EV buyers, with “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.”
It was launched on March 13, 2024, through a gazette notification, to promote the adoption of electric vehicles (EVs) throughout India.
It also informed that the scheme’s total outlay has been increased to Rs 778 crore, in a statement released on Friday.
The scheme was initially planned to operate from April 1st to July 31st, 2024, with a total outlay of Rs 500 crores.
The revised scheme now aims to support a total of 560,789 electric vehicles, which includes 500,080 electric two-wheelers (e-2Ws) and 60,709 electric three-wheelers (e-3Ws). This includes 13,590 rickshaws and e-carts, as well as 47,119 e-3Ws in the L5 category. To encourage the use of advanced technologies, the scheme will only provide incentives for EVs equipped with advanced batteries. The scheme has a limited fund and targeted numbers for each EV category.
The ministry said that the scheme will primarily focus on providing affordable and eco-friendly public transportation options for the masses, making it applicable mainly to e-2Ws and e-3Ws registered for commercial purposes. However, the scheme will also cover privately or corporately owned registered e-2Ws, in addition to those used for commercial purposes.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/electric-mobility-promotion-scheme-govt-extends-subsidy-on-two-and-three-wheeler-evs-until-september-30/articleshow/112073716.cms