Electric two-wheeler makers are learnt to have raised serious concerns about the new Electric Mobility Promotion Scheme (EMPS) 2024 for subsidies, which they estimate could result in a hit of over Rs 300 crore.
The Ministry of Heavy Industries (MHI) notified the operational guidelines for EMPS 2024 late on Wednesday, with an outlay of Rs 500 crore for the four months beginning April 1, replacing the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-II) scheme.
Under the new scheme, the subsidy for electric two-wheelers has been halved to Rs 5,000 per kilowatt hour, with a cap.
