E-Vehicle Promotion Yojana 2024: In today’s time, air pollution is increasing a lot, due to which people have to face many problems. And the main reason for increasing air pollution is the excess of vehicles because most of the pollution is caused by the smoke coming out of vehicles, keeping this in mind, the Government of India has decided to promote electric vehicles as well as give subsidy on its purchase. So that more and more people buy this vehicle and air pollution can be reduced.
Therefore, the government has decided to give subsidy on the purchase of this vehicle and the name of this scheme is ‘E-vehicle promotion scheme’ This scheme has been launched for electric vehicles. This scheme will cost Rs 500 crore for four months from 1 April to 31 July 2024. If you are also thinking of buying an electric vehicle, and you do not have any information about this scheme yet, then perhaps you will not be able to take advantage of the electric vehicle subsidy available under this scheme, for which you need to know about this scheme so that you can also get subsidy on your electric vehicle.
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E-Vehicle Promotion Scheme 2024: What is it?
The Government of India has started this e-vehicle scheme to reduce the air pollution in today’s time, in this scheme the government is going to provide subsidy to the citizens on the purchase of electric vehicles, so that they can get electric vehicles at a low cost and the aim of this scheme is to sell about 3.3 lakh two-wheelers on subsidy, and 41 thousand three-wheelers on subsidy.
E-Vehicle Promotion Scheme 2024: On which vehicles subsidy will be available
If you are thinking of buying an electric vehicle, then you must know about this scheme – and you can see the information about how much subsidy amount will be given on which vehicle in this scheme in the table given below –
| Vehicle | Subsidy amount |
| Electric two wheeler | Rs 10,000 |
| Electric three wheeler ((E-rickshaw and E-cart) | Rs 25,000 |
| large electric tricycle | Rs 50,000 |
How many electric vehicles were sold in the year 2023
Let us tell you that the demand and sale of electric vehicles is increasing rapidly in the country, in which the two-wheeler and three-wheeler segment vehicles have seen the highest growth. Keeping this in mind, the government has started the ‘E-Vehicle Promotion Scheme’ so that people can buy more of these vehicles with the facility of subsidy. A total of 15.30 lakh units of electric vehicles were sold in the year 2023, whereas in the year 2022 this figure was 10.2 lakh. And now the government wants that in the year 2024, more electric vehicles should be sold than in the year 2023, so they have also provided subsidy facility on this vehicle, so that people buy more and more of these electric vehicles.
E-Vehicle Promotion Scheme 2024: What is the statement of MHI?
Regarding electric vehicles, MHI said in a statement that it aims to support around 3.3 lakh two-wheelers and about 31,000 electric three-wheelers with the latest e-mobility scheme, along with this the ministry has also clarified that the benefit of incentives will be available only on those vehicles which have advanced batteries.
E-Vehicle Promotion Scheme 2024: Government has increased the amount of allocation
This scheme is to encourage customers to buy electric vehicles for which the government has increased the allocation amount from Rs 10,000 crore to Rs 11,500 crore. Under this scheme, electric two-wheelers and three-wheelers are eligible to avail subsidy of Rs 7,048 crore. About Rs 4,048 crore has been allocated for capital asset subsidy and Rs 400 crore for ‘other’ category. Under this scheme, subsidy will be given on the purchase of electric vehicles as long as funds are available.
