Electric Two-wheelers To Get Rs 10,000 Benefit Under New EMPS

Electric Two-wheelers To Get Rs 10,000 Benefit Under New EMPS

News by Team Drivio | Mar 18, 2024

The benefits under the new EMPS 2024 will partially compensate for the removal of the FAME II subsidy on electric two-wheelers after 31st March 2024. 

  • The benefit under EMPS 2023 will be offered on electric two-wheelers sold between 1st April 2024 to 31st July 2024.  
  • A maximum capping of 3,33,387 units of electric two-wheelers is provisioned under EMPS 2024.  
  • The new EMPS 2024 will be provided on all high-speed electric two-wheelers. 

If you are planning to buy a new electric two-wheeler, this piece of news should be a sigh of relief. In one of its recent announcements, the Ministry of Heavy Industries has introduced the “Electric Mobility Promotion Scheme (EMPS) 2024”. Under this initiative, a total amount of Rs 500 crore has been announced as a subsidy over electric vehicles, out of which Rs 333.39 crore is for electric two-wheelers and the remaining is for electric three-wheelers.

SpecificationsOla S1 AirAther 450STVS iQube
Electric motor4.5 kW5.4 kW4.4 kW
Top speed90 kmph90 kmph78 kmph
Battery3 kWh2.9 kWh3.4 kWh
Claimed range151 km115 km100 km
Current Price (ex-showroom)Rs 1.05 lakhRs 99,200Rs 1.1 lakh

Under the amount allotted for electric two-wheelers, each unit sold will benefit from Rs 10,000. Ts translates to a total of 3,33,398 units of electric two-wheelers eligible for this initiative as per the amount allotted for electric two-wheelers. The EMPS 2024 will be valid for all the electric two-wheelers sold between 1st April to 31st July, including the popular ones like Ola S1 Air, Ather 450S and TVS iQube.

With the FAME II subsidy coming to an end on 31st March 2024 or till the allotted budget of Rs 11,500 crore sustained by the date, the newly-introduced EMPS 2024 will further sigh relief to the prospective buyers of new electric two-wheelers.