Indian govt. announces Electric Mobility Promotion Scheme 2024

Details: India Energy Storage Alliance

The Ministry of Heavy Industries, Govt. of India, on Wednesday (March 13) announced the Electric Mobility Promotion Scheme 2024 to accelerate the adoption of electric vehicles in India.

The fund limited scheme, with an outlay of Rs. 500 crore, will be implemented for four months, beginning April 1, 2024, to July 31, 2024, for the faster adoption of electric two-wheelers (e-2W) and electric three-wheelers (e-3W). MHI noted that greater emphasis will be given to vehicles that provide eco-friendly and affordable public transportation options for the masses, thereby the scheme will be applicable to mainly those e-2Ws and e-3Ws registered for commercial purposes.

Eligible EV categories are:

a) Two Wheelers (electric) (e-2W)

b) Three-wheeler (electric) including registered e-rickshaws & e-carts and L5 (e-3W)

Through the latest scheme, the Indian government aims to support 3,72,215 EVs including e-2W (3,33,387) and e-3W (38,828 including 13,590 rickshaws and e-carts and 25,238 e-3W in L5 category).

"To encourage advanced technologies, the benefits of incentives will be extended to only those vehicles that are fitted with advanced batteries," MHI stated.

The new scheme supplants the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase II, which started in April 2019 and continues till March 31, 2024.

The guidelines and notification for EMPS 2024 will be issued by MHI separately.

Extend FAME-II and bring back e-2W subsidy, says Indian panel -

India's Parliamentary Standing Committee on Industry has recommended the government extend the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) subsidy scheme by three years, among other measures designed to boost adoption of electric vehicles in the country. "In order to facilitate the transition momentum to electric mobility, broaden the scope and extend the FAME-II Scheme for at least three more years. In order to decarbonize the transport sector, efforts should be made to set a deadline for making the transport sector in the country mandatorily electric," the report said. The committee also emphasized the need to include private four-wheelers and quadricycles in the scheme.

https://etn.news/buzz/extend-fame-ii-restore-subsidy-indian-panel