New Scheme To Promote Electric Three-Wheeler Adoption To Commence: Here Are Insights
Published On Apr 01, 2024 01:43 PM
As part of enhancing the adoption of electric three-wheelers, the Ministry of Heavy Industries will bring the EMPS 2024 scheme into force. Here are insights and the best three-wheelers you can buy to play an active role in electric vehicle adoption. Read on
To enhance sustainable mobility and improve the adoption of electric vehicles, particularly electric three-wheeled vehicles in India, a Rs 500 crore scheme will come into force until the end of July. Moreover, the FAME, or Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme, will end on March 31, 2024.
According to the Economic Times’ recent report, subsidies under the FAME scheme will be eligible for electric vehicles sold till March 31, or till the time funds are available.
Related Link: Breaking: Montra Super Auto To Come With Subsidy Under RAAHI Scheme In Addition To FAME Discounts
Insights: Benefits Under New Scheme
The new Rs 500 crore Electric Mobility Promotion Scheme or EMPS 2024 is introduced by the Ministry of Heavy Industries. Under the scheme, Rs 25,000 is offered as support for the purchase of small electric three-wheelers which includes both hauliers and passenger mobility-oriented vehicles.
Additionally, it is reported that Rs 50,000 will be offered in the case of larger electric three-wheelers.
What’s The Catch?
The EMPS 2024 is a limited-period scheme with total funds of Rs 500 crore for a period of 4 months. Precisely, the scheme is functional from April 1, 2024, till July 31, 2024, with an aim to enhance three-wheeler adoption rates.
Although the scheme aims to support 3,72,215 electric vehicles to encourage advanced mobility technologies, the benefits of incentives will be extended to only those vehicles that are fitted with advanced vehicular batteries, the ministry had said.
Best Electric Three-Wheelers You Need
Altigreen neEV Tez
The Altigreen neEV Tez is a performance-focused electric three-wheeler suitable for the long-distance cargo haulage needs of Indian transporters. The vehicle is powered by an 8.25 kW electric motor paired with an 8.8 KWh battery pack. The electric motor makes a peak torque of 45 Nm and the top speed of the neEV Tez is 53 kmph.
The neEV Tez from Altigreen comes with a starting price of Rs 3.55 lakh (ex-showroom). The brand claims neEV Tez is popular since it can charge its battery from 0 to 100 percent in just 15 minutes and deliver approximately 90 km per full charge.
Euler Motors Hi Load
The Euler Hi Load is outfitted with a lithium-ion battery pack with a 13 kWh capacity and a robust AC induction electric motor capable of producing a peak power of 14.69 hp and a peak torque of 88.55 Nm. With this electric motor configuration, Euler Motors asserts that the vehicle can reach a top speed of 45 kmph and deliver a certified driving range of 170 km.
The Euler Hi Load is available at a starting price of Rs 3.94 lakh and goes up to Rs 4.30 lakh (ex-showroom).
Mahindra Treo Yaari
The Mahindra Treo Yaari is propelled by an advanced electric motor and a lithium-ion 48V battery pack with a battery capacity of 3.69 kWh. This battery configuration enables the vehicle to deliver 2.62 hp of peak power and 19 Nm of torque. The vehicle also offers a gradeability of 7 degrees for taking on rough roads and inclines.
Further, this electric three-wheeler achieves a real-world range of 80 km per single full charge. Available at a starting price of Rs 1.96 lakh which goes up to Rs 2.04 lakh (ex-showroom), the Treo Yaari is a cost-effective solution for businesses.
What We Think?
As part of the Atmanirbhar Bharat initiative of the government, the EMPS 2024 scheme is aimed at enhancing electric vehicle adoption rates, particularly, the adoption of electric three-wheelers which play a larger role in improving the profitability of operators and logistical businesses.
Furthermore, the phased manufacturing programme is considered so that domestic manufacturing of electric vehicles increases to strengthen the electric vehicle supply chain.
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