As the Electric Mobility Promotion Scheme (EMPS) 2024 gears up for implementation on April 1, 2024, a significant policy shift mandates all manufacturers of two-wheeler and three-wheeled electric vehicles to provide customers with a 3-year battery warranty.
Electric Mobility Promotion Scheme 2024 Replacing the expiring FAME-II subsidy, the Ministry of Heavy Industries unveiled the Electric Mobility Promotion Scheme, aimed at fostering green mobility while establishing robust post-purchase service ecosystems linking consumers and manufacturers.
Allocating a total of 500 crores, the Indian Ministry of Heavy Industries aims to bolster the sales and proliferation of electric vehicles under EMPS 2024.
Heavy Industries Minister Mahender Nath Pandey remarked, “The new scheme underscores the government’s commitment to promoting electric mobility and achieving Net Zero targets. The allocated Rs 500 crore will facilitate support for approximately 400,000 e2W and e3W over four months.”
Adjustments in subsidy caps and re-registration requirements aim to address escalating demand while alleviating the burden on EV manufacturers.
3-Year Mandatory Warranty Incentives under EMPS will be extended to vehicles featuring advanced battery technology to propel technological advancements within the EV sector. Consequently, industry standards for batteries, pivotal components of electric vehicles, will witness enhancements.
EV manufacturers must also ensure high localization levels for EMPS-subsidized models, fostering mutual benefits for producers and consumers and propelling green mobility initiatives.
Customers’ Confidence Boost The reliability of an electric vehicle’s battery significantly influences customers’ purchasing decisions. With the stipulation that major EV manufacturers must offer a 3-year warranty on batteries to avail EMPS 2024 benefits, customers gain enhanced confidence in their chosen EV brands.
This move not only safeguards consumer interests but also fosters a conducive environment for the growth and adoption of electric vehicles, aligning with India’s sustainable mobility goals.
