EMPS Extended: EVs Remain Affordable till September 2024

The Ministry of Heavy Industries has announced a two-month extension for the EMPS 2024 (Electric Mobility Promotion Scheme) 2024 - meaning it will not end on July 31, 2024, which will remain effective till September 30, 2024.

The EMPS benefits electric two-wheeler buyers and three-wheeler buyers, plus it also benefits in promoting cleaner energy alternatives which otherwise are much more expensive than their ICE counterparts. 

The scheme’s goal is to support 5,60,789 individual EV buyers, out of which 60,709 people are supposed to be three-wheeler buyers, while the rest are two-wheeler buyers. Private individuals can also benefit from this scheme but it puts more weight on creating a sustainable public transport system.

The scheme was launched on April 1, 2024, with a Rs 500 crore budget and it was supposed to end in four months since inception. But now, an additional budget has been allocated worth Rs 278 crore, until the extension in September 2024. The scheme provides a subsidy of Rs 5000 per kWh battery capacity with a limit of Rs 10,000 for electric two-wheelers.

Expected Outcome

The entire EV industry seems to be content after this announcement because these subsidies are a big reason why patrons can buy these EVs in the first place. With the extension of this scheme, the entire EV industry is hoping to regain traction after seeing a fall in numbers for a while.