Greaves Electric Mobility Gets EMPS Incentives | Electric Vehicle News
By Rediff Money Desk, Mumbai Sep 09, 2024 16:29
Greaves Electric Mobility secures government approval for incentives under the EMPS scheme, making its two-wheeler models eligible for subsidies. Learn more about the company's commitment to sustainable mobility.
Mumbai, Sep 9 (PTI) Greaves Cotton's electric mobility arm, Greaves Electric Mobility, on Monday said it has secured Heavy Industries Ministry's nod for incentives under the Union Government's Electric Mobility Promotion Scheme (EMPS) 2024.
The Ministry has approved the registration of the company's all two-wheeler models' Nexus, Primus, Magnus, and Zeal under the EMPS scheme, making it eligible for the government's EV demand incentive scheme.
Greaves Electric Mobility said its three-wheeler business through its subsidiary is already eligible for such incentives under the scheme.
The EMPS was launched in April and was extended till September 30.
It was announced in March this year, to be applicable from April 1 to July 31, with an outlay of Rs 500 crore. Later it was extended till September 30, with a total outlay of Rs 778 crore.
Under the scheme, a subsidy of up to Rs 10,000 per electric two-wheeler (e2W) and Rs 25,000 per electric three-wheeler (e3W) and up to Rs 50,000 on heavy e3Ws (autos and commercial units) are provided by the government.
With the latest approval, all eligible two-wheeler models are now included, positioning the company to further drive accessible and sustainable mobility across India, it said.
"Resuming our place in the EMPS scheme underscores our commitment to our consumers towards accessible and sustainable mobility solutions," said K Vijaya Kumar, Executive Director and CEO at Greaves Electric Mobility.
The Ministry has approved the registration of the company's all two-wheeler models' Nexus, Primus, Magnus, and Zeal under the EMPS scheme, making it eligible for the government's EV demand incentive scheme.
Greaves Electric Mobility said its three-wheeler business through its subsidiary is already eligible for such incentives under the scheme.
The EMPS was launched in April and was extended till September 30.
It was announced in March this year, to be applicable from April 1 to July 31, with an outlay of Rs 500 crore. Later it was extended till September 30, with a total outlay of Rs 778 crore.
Under the scheme, a subsidy of up to Rs 10,000 per electric two-wheeler (e2W) and Rs 25,000 per electric three-wheeler (e3W) and up to Rs 50,000 on heavy e3Ws (autos and commercial units) are provided by the government.
With the latest approval, all eligible two-wheeler models are now included, positioning the company to further drive accessible and sustainable mobility across India, it said.
"Resuming our place in the EMPS scheme underscores our commitment to our consumers towards accessible and sustainable mobility solutions," said K Vijaya Kumar, Executive Director and CEO at Greaves Electric Mobility.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 13.54 (+ 2.58)
- 26994383
- Suzlon Energy Ltd.
- 78.05 (+ 4.99)
- 21764103
- GTL Infrastructure
- 2.49 (+ 4.62)
- 20640426
- Rama Steel Tubes
- 14.17 ( -5.15)
- 19433323
- GACM Technologies
- 1.54 (+ 2.67)
- 12537658
MORE NEWS
Infosys & Proximus Partner for New Business...
Infosys and Proximus Group announce a strategic collaboration to drive new business...
Arkade Developers' IPO Opens Sep 16: Price Band...
Arkade Developers' Rs 410 crore IPO opens Sep 16, price band set at Rs 121-128 per...
Western Carriers IPO: Price Band at Rs...
Western Carriers, a leading logistics firm, has fixed the price band for its Rs...