EMPS 2024: EV Prices To Be Increased By 10% From April 1

Electric scooter prices in India are set to rise by up to 10%, according to ICRA, from 1 April. The rise is due to the new Electric Mobility Promotion Scheme (EMPS) 2024, which replaces FAME-II. It reduces subsidies to Rs 5,000/kWh, with vehicle benefits capped at Rs 10,000. 

The move might affect the affordability of electric vehicles nationwide. The Ministry of Heavy Industries has allocated Rs. 333.39 crore for e-2Ws under EMPS, with each scooter eligible for a Rs. 10,000 subsidy. However, the scheme is valid only from April 1 to July 31. This significant change in subsidy structure comes at a crucial time for the steadily growing electric scooter market.

EMPS Key Features & Future Plans 

The Electric Mobility Promotion Scheme (EMPS) 2024 aims to boost electric vehicle sales for manufacturers, dealerships, and buyers. It replaces FAME-II, reducing subsidies to Rs 5,000/kWh and capping vehicle benefits at Rs 10,000. As FAME-II ends this month, EMPS provides additional support while awaiting future government subsidies for EVs.

EMPS ensures continued support for EV penetration while state subsidies are phased out. It is projected to reach 6-8% of the industry by 2025. The Indian government's EV policy includes incentives for domestic EV manufacturing, benefiting companies like Tesla eyeing India.

Though the price hike may affect scooter affordability, it's an opportune time to buy before FAME-II expires. EMPS encourages transition to EVs, aligning with India's push for greener mobility. Plans may include expanding incentives, fostering EV infrastructure, and attracting global EV players to invest in India. 

More About EMPS 2024

The new electric vehicle program (EMPS) in India is good for a few reasons:

• It keeps helping people buy electric scooters and rickshaws after another program ended.
• Focusing on these small vehicles, it encourages companies to build more charging stations, which is good for all EVs..
• This program is also like a test to see what works well for electric vehicles so future programs can be even better. This will help make electric vehicles more common in India.

India's electric future looks bright. With ongoing government schemes, industry innovation, and more people interested, we'll see many electric scooters and better charging stations. This will help cut down on pollution, which is good for the planet. If you're thinking about getting an electric scooter, now's a great time. It's a chance to be part of making India cleaner and greener.

Before you go, don’t forget to check out the 2025 Bhrarat Expo dates & Venues.

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