Revolt Motors Secures Approval For EV Subsidy From GOI
As part of current EMPS 2024 subsidy scheme, Revolt Motors will be eligible for Rs. 10,000 per motorcycle as subsidy from Govt. of India
Revolt Motors, an electric motorcycle manufacturing startup, has received official approval from the Ministry of Heavy Industries to be eligible for Govt. of India’s EV subsidy schemes. In the past, Revolt Motors had proactively paid back the past availed subsidies under FAME II subsidy regime. With this step, all past issues related to FAME II subsidies stand fully resolved.
This is a significant step for the company since it not only makes Revolt Motors eligible for the current ongoing Electric Mobility Promotion Scheme (EMPS) 2024 subsidy for electric two wheelers but also the subsequent FAME III subsidy scheme which is expected to follow EMPS. The current scheme, EMPS was extended by Govt. of India till 30th September 2024 last week.
As part of current EMPS 2024 subsidy scheme Revolt Motors will be eligible for Rs. 10,000 per motorcycle as subsidy from Govt. of India. This will make Revolt motorcycles competitively priced in the market further boosting both the sales and profitability of the company.
On receiving this approval, Anjali Rattan, Co-Chairperson of RattanIndia Enterprises (the parent company of Revolt Motors), stated in a press statement, “This endorsement is a testament to our relentless efforts towards Make in India program with its 100 per cent made in India electric motorcycles. Revolt Motors has an unwavering commitment to provide environmentally friendly transportation solutions accessible to all Indians.”
