BUSINESS
The Centre on Friday extended the time period and financial outlay of its short-duration policy to promote EVs, the Electric Mobility Promotion Scheme. According to the Ministry of Heavy Industries, the EMPS scheme has been extended from July 31, 2024, to September 30, 2024. The scheme has been given an additional outlay of over Rs 270 crore. EMPS had an original outlay of Rs 500 crore. “The proposal for the scheme’s extension has been accepted by the Ministry of Finance,” an industry stakeholder told FE on account of anonymity. Till now, only Rs 66 crore has been claimed by the industry as an incentive for the sale of electric two- and three-wheelers. The scheme now targets to support 560,789 electric vehicles (EVs), comprising 500,080 electric two-wheelers (e-2Ws) and 60,709 electric three-wheelers (e-3Ws). None
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