The scheme will support a maximum of 3,72,215 electric vehicles. This includes 3,33,387 electric two-wheelers, 13,590 e-rickshaws or e-carts, and 25,238 electric three-wheelers in the L5 category, as per the Ministry of Heavy Industries.
The ministry stated, "EMPS 2024 is fund-limited, with restricted number of vehicles and a term-limited Scheme, i.e., the subsidies for demand incentive are eligible for e-2w and e-3w sold and registered until the funds are available or the number of vehicles supported reaches the maximum number defined category-wise (shown in para above) or until July 31, 2024, whichever comes first."
The initiative is expected to provide significant momentum to the green mobility sector and boost the electric vehicle manufacturing ecosystem in the country.
(Source- PTI)
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
