Centre extends EV subsidy scheme EMPS to September-end

The central government extended the Electric Mobility Promotion Scheme (EMPS) 2024 by two months, prolonging it to September-end. The scheme's budget was also increased to Rs 778 crore, from the initial Rs 500 crore. EMPS offers subsidies up to Rs 10,000 for electric two-wheelers and Rs 50,000 for electric three-wheelers, aimed at promoting clean energy vehicles following the FAME scheme's lapse. Moreover, the target numbers for EV sales were raised to 5.61 lakh from 3.72 lakh vehicles initially, with companies like Hero Motocorp and Bajaj among the beneficiaries. The EMPS mandates stricter localization compliance, phasing out the previous scheme's phased manufacturing programme.