New Delhi: Revolt Motors has received approval from the Ministry of Heavy Industries, making it eligible for EV subsidy schemes. The company has repaid the subsidies availed under the FAME-II regime and resolved past issues related to subsidies. This approval qualifies Revolt Motors for the Electric Mobility Promotion Scheme (EMPS) 2024 subsidy and the subsequent FAME III scheme. The EMPS 2024 scheme, extended to September 30, 2024, offers a subsidy of INR 10,000 per motorcycle from the Central Government.This approval is a significant step for Revolt Motors. The company can now avail subsidies under the ongoing EMPS 2024, making its motorcycles competitively priced and potentially boosting both sales and profitability.
“We are thrilled and honoured to have received this approval from the Ministry of Heavy Industries. This endorsement is a testament to our relentless efforts towards the Make in India program with its 100% made in India electric motorcycles. Revolt Motors has an unwavering commitment to provide environmentally-friendly transportation solutions accessible to all Indians,” said Anjali Rattan, Co-Chairperson of RattanIndia Enterprises Ltd., the parent company of Revolt Motors.
As Revolt Motors becomes eligible for the EMPS 2024 subsidy, the company stands to gain a significant competitive edge in the market. The INR 10,000 subsidy per motorcycle from the Central Government will make their products more attractive to consumers, potentially boosting sales and profitability.
The extension of the EMPS 2024 scheme until September 30, 2024, ensures that Revolt Motors can plan and execute its market strategies effectively. With a focus on 100% made in India electric motorcycles, Revolt Motors remains committed to providing accessible, environmentally-friendly transportation to all Indians.
