2024 Electric Mobility Promotion Scheme Subsidy For Electric Bikes And Scooters Extended
The subsidy was introduced as a replacement for the FAME 2 subsidy. Initially, it was to be valid for 4 months but has been extended to 2 more months now
Quick News Highlights
- The subsidy was initially valid till July 31 but is now extended till September 30, 2024.
- The budget for the subsidy has been extended from Rs 500 crore to Rs 778 crore.
- However, there is a cap of Rs 10,000 subsidy per electric vehicle.
The Ministry of Heavy Industries (MHI) of India has extended the 2024 Electric Mobility Promotion Scheme (EMPS) for electric two and three-wheelers by another two months. The subsidy, introduced in March, was initially valid for four months, from April 1 to July 31, 2024. However, the central government has now extended the EMPS subsidy till September 30, 2024.
The government has increased the budget for the subsidy from Rs 500 crore to Rs 778 crore. Additionally, the number of electric two-wheelers eligible for the subsidy has been raised to 5,00,080, up from the previous 3,33,387 units. MHI is yet to reveal in-depth details about the budget breakdown for the amount of subsidies allocated for EVs.
The extension of the EMPS electric vehicle subsidy will provide relief to the manufacturers and encourage potential buyers of new electric scooters or bikes. The EMPS 2024 was introduced earlier this year as a replacement for the FAME 2 subsidy. The subsidy covers Rs 5,000 per kWh of the vehicle’s total battery capacity, capped at 15 percent of the vehicle's factory price. In addition, EMPS has an extra cap of Rs 10,000 per electric vehicle.
The criteria for the electric vehicle manufacturers to be included in the EMPS 2024 are as follows:
- The electric two-wheelers must be manufactured in India.
- The EV manufacturers must have local manufacturing and assembly plants for major components such as DC-DC converters, batteries, motors, and instrument consoles.
- The manufacturers should provide a warranty of at least 3 years or 20,000km, whichever comes first.
For now, the new EMPS subsidy reduces the cost of electric vehicles, but it's not a permanent solution. Without a long-term fix, the cost of electric vehicles could go up sharply, reversing the progress the country has made so far in adopting EVs. Later, when the subsidies end, giants like Bajaj and TVS may handle the impact better than relatively newer companies like Ather Energy, Ola Electric, Simple, and River, which are majorly dependent on subsidies for now.
User Reviews
I had purchased it when ev was new in market, I am very much satisfied. I had drove it for more than 50000 kms with no expense. I had to change only tyres and regular service only one auxiliary battery of Rs. 800 had been changed. I am quiet impressed me and my son both have purchased but there is very less front space between handle and seat to carry extra luggage vegetables or ration need to improve in this area good service staff in patni and Nagpur. I will recommend everyone to go for this ev only. Positive, Very good for local commute, I had recovered all the money spend for purchase, me and my son had not spend a single penny for petrol, very pleasant ride for city and highway also but with limitation of distance. mid age person college boys with huge space in seat box for helmet and laptop girls working women also it's value for money, I had already 2 chetak with me and both vehicle had been run for 50000 and 23000 kms planning to purchase one more for my wife.Read More
Very excellent riding experience with good battery backup and smooth riding, very good and attractive build of the body which is very eye catching plus the service staff is very polite and helpful always very supportive. Very compact design and fast charging capacity. Everyone is pleased and best feature is the environment benefits.Read More
Its an amazing bike with good battery and mileage. It looks so premium and luxury & sporty. When ride this bike, it has 4 types of sound which I like so I chose. It has 3.24 kwh lithium ion battery which can be removable for charging. Its top speed is 85 km/hour which is enough in Lucknow city. Its average is 150 km in eco mode and in sports mode it reaches upto 85 km. It is a good bike for riding inside city rather than any highway because on highways, bike needs more speed. Inside city, it is perfect because there are lots of traffic and its handling is amazing like passion bike. I recommend this bike to those peoples who travel inside city for office, gym, etc. It is a battery operated bike so its a very economical bike to purchase because you does not have to pay for petrol and now in these days quality of petrol and mileage of petrol bikes is also reduce due to e20 or upcoming e85 or e100 petrols mixed with ethanol. I just recommend to almost every person who travels approx 150 km in a day can purchase this bike. Read More
My friend has bought this scooter and I have also ridden it. It has very good ride quality and gives very good range. Even 2 people can sit comfortably. It gives good range. The seat is also very comfortable. I would recommend everyone to buy it because it is the best. It is the best in mileage. It drives on the road and highway as if you are sitting in a car. The suspension is very good. Even on rough roads, there is no problem as its suspension is very firm and soft, so there are no jolts at all. I like it. Actually, this scooter is good for everyone from small children to adults. It does not cause any jolts at all and runs very smoothly. Whom not to buy is not a word in my dictionary because this scooter is made for everyone. I will recommend it to everyone.Read More
I chose this bike because this is the most reliable bike in this price range and it is easy to trust electric bike for reliability. Other bike in this price range is ola roadster but that is not reliable and trustful. I rode this for long rides. Since I have this bike from last two years, I never faced any big problem like immediately switch off like other but with time its power slightly gets down which is normal and better. I bought this because from past 2 years this bike saved my fuel cost which will be equivalent to the price of bike so even it gets unusable after 4-5 years, this will not made impact because you can save very much fuel.Read More