EV subsidy: Ola, others get certificates

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Last Updated06/04/2024

Ola Electric, TVS Motor, Bajaj Auto, Hero MotoCorp and Ather Energy have managed to get certificates from the Ministry of Heavy Industries (MHI) in a manual format for getting subsidies under the Electric Mobility Promotion Scheme (EMPS) 2024.

Although the online portal for completing the process for availing subsidy under EMPS is not ready, companies are getting a ‘go ahead’ certificate from the Ministry of Heavy Industries (MHI) in a manual format.
There is relief among the companies as vehicles manufactured from April 3 will be eligible for the subsidies under the scheme.

The Indian government has introduced the EMPS 2024 to promote the purchase of electric two-wheelers (e2W) and three-wheelers (e3W).
With a budget of Rs 5 billion, it will replace the FAME-2 scheme and will be effective from April to July 2024, with the possibility of being replaced or extended thereafter.
The main goal is to increase the adoption of e2Ws and e3Ws while gradually reducing industry reliance on subsidies.
The scheme does not cover electric four-wheelers (e4Ws) and e-buses.