Revolt Motors to enjoy subsidy under EMPS once again
Revolt Motors on Wednesday has once again gained the eligibility to be qualified for the electric vehicle (EV) subsidy schemes offered by the Indian government. The company has been approved by the Ministry of Heavy Industries to enjoy subsidies under the ongoing Electric Mobility Promotion Plan (EMPS) 2024. The update has increased the chances of the company to get further qualified for the expected FAME III subsidy plan.
With the latest update, Revolt Motors is now eligible to receive subsidies for electric two-wheelers under the EMPS 2024. The corporation is in a good position to benefit from the FAME III program, which is predicted to be followed by the EMPS. Currently, the EMPS has been extended by the Indian government till September 30, 2024.
The subsidy is expected to boost Revolt Motors' position in the rapidly growing Indian electric two-wheeler market. The Indian EV market is expanding as a result of many factors, including government subsidies, growing fuel prices, and environmental concerns.
While it is too early to tell how this clearance will affect Revolt Motors' sales, market share, or the larger Indian electric two-wheeler industry, it is a step in the right direction towards the nation's objective of seeing a rise in EV usage.