New Delhi: The Union ministry of heavy industries on Wednesday launched the Electrical Mobility Promotion Scheme 2024 to help gross sales of electrical autos until July with an outlay of ₹500 crore.
This comes simply earlier than the ₹10,000 crore Sooner Adoption and Manufacturing of (Hybrid &) Electrical Automobiles (FAME) II scheme ends on 31 March.
Underneath this new scheme, incentives value ₹333.39 crore have been put aside for electrical two-wheelers. The allocation for e-rickshaws and e-carts stands at ₹33.97 crore. One other ₹126.19 crore would go to advertise gross sales of electrical three wheelers with speeds increased than 25 kilometres per hour, generally known as L5.
Incentives, nonetheless, wouldn’t be supplied for 4 wheelers. Subsidies beneath FAME II can be found for four-wheeled autos.
On 7 March, CNBC TV18 had first reported that the federal government has allotted ₹500 crore to cowl subsidies for EV gross sales until July 31, 2024.
The brand new scheme would supply a subsidy of ₹10,000 per electrical two-wheeler, ₹25,000 per e-rickshaws and e-carts and ₹50,000 per heavy electrical three wheelers.
“By this newly launched ₹500 crore scheme, the ministry of heavy industries reiterates its dedication in direction of e-mobility,” stated the union minister for heavy industries, Mahendra Nath Pandey.
The ministry had formulated FAME India Part II scheme for a interval of 5 years commencing from April 1, 2019 with a complete budgetary help of ₹10,000 crore.
In response to knowledge from the Nationwide Automotive Board, thus far beneath phase-II of FAME scheme, almost 1.47 million autos have been bought, together with 1.3 million two wheelers, 150,613 three-wheelers and 18,794 4 wheelers. The federal government is but to take a finalize on the third section of the scheme.
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Revealed: 13 Mar 2024, 08:21 PM IST
Supply: Live Mint