The new Electric Mobility Promotion Scheme (EMPS) 2024, which will go into effect on April 1, 2024, requires all makers of two-wheeler and three-wheeled electric vehicles to offer their customers a 3-year battery warranty.
Any manufacturer receiving advantages under the Electric Mobility Promotion Scheme 2024 will be required to offer its customers a 3-year warranty on batteries used in two-wheeler or three-wheeler electric vehicles.
Electric Mobility Promotion Scheme 2024
The FAME-II subsidy, which expires on March 31, 2024, will be replaced by the Electric Mobility Promotion Scheme, which was announced by the Ministry of Heavy Industries on Thursday. In addition to promoting green mobility, EMPS 2024 seeks to establish an ecosystem for post-purchase services that connect consumers and manufacturers.
A total of 500 crores have been allocated by the Indian Ministry of Heavy Industries to promote the sales and expansion of electric vehicles under the Electric Mobility Promotion Scheme 2024.
“The new scheme stands as a testament to the government’s endeavors to promote electric mobility and achieve Net Zero targets. The allocated Rs 500 crore will be utilized to support around 400,000 e2W and e3W over a span of four months,” according to Heavy Industries Minister Mahender Nath Pandey.
Furthermore, the government has reduced the maximum subsidy cap in order to address the rising demand and lessen the burden on EV manufacturers. Re-registration is required for electric vehicle manufacturers seeking incentives under the upcoming EMPS.
3-Year Mandatory Warranty
Since incentives will be extended to vehicles equipped with advanced battery technology to spur technological growth in the EV sector, the industry standards for batteries—the most important component of an electric vehicle—will also be improved.
Manufacturers of electric vehicles will also have to guarantee a high level of localization for the EMPS-subsidized models. Overall, the program will help producers and consumers in a way that will help advance green mobility.
Customers’ decision to purchase an electric vehicle is largely influenced by the battery’s dependability. With the announcement that major manufacturers of EVs will need to provide a 3-year warranty on their batteries in order to avail benefits of EMPS 2024, customers will also feel more secure about the brands of EVs they choose.
