New Delhi: The Centre, on Wednesday, announced a scheme with an outlay of Rs 500 crore to promote electric mobility across the nation. The scheme will last for four months until July 2024 and applies to two and three-wheelers. The second phase of FAME-II or Faster Adoption and Manufacturing of Electric Vehicles in India programme ends on March 31, 2024.

Announcing the Electric-Mobility Promotion Scheme 2024 (EMPS 2024), Heavy Industries Minister Mahendra Nath Pandey said the Modi government is committed to promoting e-mobility in the country.

Under the scheme, support of up to Rs 10,000 per two-wheeler will be provided. The aim is to provide support for about 3.33 lakh two-wheelers.

A support of up to Rs 25,000 will be given for the purchase of small three-wheelers (e-rickshaw and e-carts). More than 41,000 such vehicles will be provided the incentive under the scheme.

The financial support will be up to Rs 50,000 on the purchase of a large three-wheeler.

Subsidies under the second phase of the FAME scheme will be eligible for e-vehicles sold till March 31, 2024, or till the time funds are available.

Earlier in the day, the Ministry of Heavy Industries (MHI) and the Indian Institute of Technology, Roorkee signed a Memorandum of Understanding to work together to encourage innovation and advance the automotive and electric vehicle (EV) sector.

"This MoU represents a joint effort to launch advanced initiatives for creating a Centre of Excellence (CoE) and an Industry Accelerator at IIT Roorkee under the Scheme for Enhancement of Competitiveness in the Indian Capital Goods Sector Phase II of MHI," an official release said.

The collaboration seeks to utilise the combined knowledge and resources of both organizations to support groundbreaking projects that will influence the future of transportation.

With a total grant of Rs 19.87 crore provided by MHI and an additional Rs 4.78 crore contributed by industry partners, the total project cost is Rs 24.66 crore.

With inputs from PTI.