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.
Greaves Electric Mobility has received government approval for incentives under the EMPS scheme for its two-wheeler models. This makes the company eligible for subsidies on its electric vehicles
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.