Greaves Electric Mobility, a subsidiary of Greaves Cotton, on Monday said that the Ministry of Heavy Industries has approved the registration of its electric two-wheelers under the Electric Mobility Promotion Scheme.
In a statement to the Bombay Stock Exchange, the company informed that the ministry has okayed registering its e2W models Nexus, Primus Magnus, and Zeal under the EMPS scheme, making them eligible for the government’s incentive scheme.
Greaves Electric Mobility said its three-wheeler business through its subsidiary is already eligible for such incentives under the scheme.
The EMPS 2024 is an initiative by the Indian government to accelerate the adoption of electric vehicles and boost the country’s EV manufacturing ecosystem.
The scheme was initially applicable from April 1 to July 31, with an outlay of ₹500 crore. It was extended till Sept. 30, with a total spend of ₹778 crore.
Under the scheme, the government provides a subsidy of up to ₹10,000 per electric e2W, ₹25,000 per e3W and up to ₹50,000 on heavy e3Ws such as autos and commercial units.
With the latest approval, GEM’s all 2W models are now eligible, positioning it to drive accessible and sustainable mobility across India further, the company said.
“Resuming our place in the EMPS scheme underscores our commitment to our consumers towards accessible and sustainable mobility solutions,” said GEM CEO and executive director K Vijaya Kumar in the statement.
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