Revised Scheme To Promote EV Adoption and Manufacturing in India By CIOTechOutlook Team

Revised Scheme To Promote EV Adoption and Manufacturing in India

CIOTechOutlook Team | Tuesday, 19 March 2024, 02:41 IST

The latest Electric Mobility Advancement Scheme or EMPS would advance the early electric vehicle (EV) industry, including adoption and manufacturing by Atmanirbhar Bharat (self-reliant India), a high-ranking representative said.

"A new scheme has already been launched by the Ministry of Heavy Industries, called the Electric Mobility Promotion Scheme that will continue for four months," Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries added.

Last week, Prime Minister Narendra Modi's government revealed the Electric Mobility Promotion Scheme (EMPS) 2024, with a concentration on supporting the acquisition of electric bikes (e2W) and three-wheelers (e3W) in the nation.

"It (scheme) is to increase the faster adoption and manufacturing of electric vehicles, particularly two-wheelers and three-wheelers," Qureshi said, adding that the continuous plans would help the business that could assume a significant part towards Gross domestic product commitment.

With a relevance on giving reasonable and climate-cordial public transportation choices, the Department of Expenditure of the Ministry of Finance endorsed the plan with a cost of Rs 500 crore for four months between April 1, 2024, and July 31, 2024.

The plan expects to offer a catalyst for green versatility, including improving the nation's EV manufacturing ecosystem. The plan means to help 3,72,215 EVs. In the previous year, a parliamentary board had recommended that the public authority deliver a thorough nationwide policy on EVs by integrating overall best practices and successful state models.

As per the authority, the public authority's lead Quicker Adoption and Manufacturing of (Mixture and) Electric Vehicles main scheme or Distinction - II would conclude on March 31, 2024. Qureshi said that the public authority is working with industry development through the current projects and other financial and non-monetary measures that the office attempts.