Government unveils electric mobility promotion scheme 2024

The Ministry of Heavy Industries has introduced the Electric Mobility Promotion Scheme 2024, allocating a budget of Rs 5 billion. The programme, which aims to promote electric two- and three-wheelers, which encompasses e-rickshaws, e-carts, and L5 category vehicles, is set to run for four months, from April 1, 2024, to July 31, 2024. The programme will provide incentives exclusively for vehicles featuring advanced batteries, aimed at encouraging the adoption of innovative technology. A significant portion of the budget, amounting to Rs 4.93 billion, is designated for subsidies and demand incentives intended for purchasers of such vehicles. The remaining amount, Rs 64.5 million, will be allocated to cover the administrative expenses of the program. This includes costs associated with information dissemination, educational initiatives, communication activities, as well as fees for the project management agency.