+
Subsidies Reinstated for Compliant EV Manufacturers
ECONOMY & POLICY

Subsidies Reinstated for Compliant EV Manufacturers

The Indian government has resumed granting subsidies under the Electric Mobility Promotion Scheme (EMPS) 2024, benefiting companies such as Revolt Motors and Greaves Electric Mobility. These firms, after repaying penalties for previous non-compliance with the FAME India scheme rules, are now set to receive financial support for their electric two-wheelers.

The Ministry of Heavy Industries has increased the EMPS's budget to INR 778 crore (approximately $97.25 million) to support the sale of 561,000 electric vehicles, aiming to boost India?s green mobility push. This revision came after recovering a total of INR 469 crore ($58.63 million) in fines from six EV manufacturers for violating the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) guidelines.

Revolt Motors and Greaves have collectively returned about INR 170 crore ($21.25 million) to the government, now clearing the path to avail EMPS subsidies, potentially lowering their product prices. Other manufacturers, including Hero Electric and Okinawa Autotech, have challenged the penalties in court.

The government's broader ambition is visible in its progressive policies since 2015, starting with the original FAME scheme which had a budget of INR 895 crore ($111.88 million). With FAME II, introduced in 2019, the commitment expanded to INR 10,000 crore ($1.25 billion), significantly bolstering the sale of electric vehicles, particularly two-wheelers and three-wheelers, in India.

The Indian government has resumed granting subsidies under the Electric Mobility Promotion Scheme (EMPS) 2024, benefiting companies such as Revolt Motors and Greaves Electric Mobility. These firms, after repaying penalties for previous non-compliance with the FAME India scheme rules, are now set to receive financial support for their electric two-wheelers. The Ministry of Heavy Industries has increased the EMPS's budget to INR 778 crore (approximately $97.25 million) to support the sale of 561,000 electric vehicles, aiming to boost India?s green mobility push. This revision came after recovering a total of INR 469 crore ($58.63 million) in fines from six EV manufacturers for violating the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) guidelines. Revolt Motors and Greaves have collectively returned about INR 170 crore ($21.25 million) to the government, now clearing the path to avail EMPS subsidies, potentially lowering their product prices. Other manufacturers, including Hero Electric and Okinawa Autotech, have challenged the penalties in court. The government's broader ambition is visible in its progressive policies since 2015, starting with the original FAME scheme which had a budget of INR 895 crore ($111.88 million). With FAME II, introduced in 2019, the commitment expanded to INR 10,000 crore ($1.25 billion), significantly bolstering the sale of electric vehicles, particularly two-wheelers and three-wheelers, in India.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code