Greaves Electric Mobility, the electric vehicle division of Greaves Cotton, announced on Monday that it has received approval from the Ministry of Heavy Industries for incentives under the Union Government’s Electric Mobility Promotion Scheme (EMPS) 2024. The Ministry has sanctioned the inclusion of Greaves Electric Mobility’s entire lineup of two-wheeler models, namely Nexus, Primus, Magnus, and Zeal, under the EMPS scheme.
This development qualifies the company’s electric two-wheelers for the government’s incentive program aimed at boosting electric vehicle (EV) adoption. In addition, Greaves Electric Mobility highlighted that its three-wheeler segment, managed through its subsidiary, is already benefiting from similar incentives provided by the EMPS scheme.
The Electric Mobility Promotion Scheme, which initially launched in April, has been extended through September 30. Originally announced in March of this year, the scheme was set to be in effect from April 1 to July 31 with a financial provision of Rs 500 crore. However, due to its positive reception and impact, the scheme’s duration was extended, and the total financial allocation was increased to Rs 778 crore.
Under the EMPS, the government offers substantial subsidies to promote the adoption of electric vehicles. Specifically, a subsidy of up to Rs 10,000 is available for each electric two-wheeler (e2W), while electric three-wheelers (e3W) are eligible for a subsidy of up to Rs 25,000. Additionally, heavy electric three-wheelers, such as autos and commercial vehicles, can receive subsidies up to Rs 50,000.
With the recent approval, Greaves Electric Mobility’s entire range of eligible two-wheeler models is now covered under the EMPS scheme. This strategic inclusion is expected to further enhance the company’s efforts in advancing sustainable and accessible mobility solutions throughout India.
K Vijaya Kumar, the Executive Director and CEO of Greaves Electric Mobility, emphasized the significance of this development. He stated, “Our reinstatement in the EMPS scheme reaffirms our dedication to providing accessible and sustainable mobility solutions for our customers. This milestone reflects our ongoing commitment to supporting the transition to electric mobility and contributing to a greener future.”
The approval not only strengthens Greaves Electric Mobility’s position in the growing electric vehicle market but also underscores the company’s role in driving the shift towards eco-friendly transportation. The inclusion of its two-wheeler models in the EMPS scheme is poised to boost consumer adoption and further the company’s mission of making sustainable mobility solutions more accessible to a wider audience across India.
Greaves Electric Mobility focuses on advancing sustainable transportation solutions through its electric vehicle lineup. Specializing in electric two-wheelers and three-wheelers, the company aims to enhance mobility across India with eco-friendly and innovative products. Committed to reducing carbon emissions, Greaves Electric Mobility supports the transition to greener, more efficient transportation options.
