Haryana-Revolt Intellicorp Private Limited, an electric motorcycle manufacturer, has officially received approval from the Ministry of Heavy Industries to qualify for the Government of India's EV subsidy programs. Previously, Revolt Motors repayment all subsidies received under the FAME II scheme.
The recent approval enables Revolt Motors to take advantage of the Electric Mobility Promotion Scheme (EMPS) 2024, which provides subsidies for electric two-wheelers. This also positions the company to potentially gain from the forthcoming FAME III subsidy scheme, expected to succeed EMPS. The Government of India recently extended the EMPS until 30th September 2024.
Under the EMPS 2024 subsidy scheme, Revolt Motors will receive a Rs. 10,000 subsidy per motorcycle from the Government of India. This financial support will enhance the competitiveness of Revolt motorcycles in the market, potentially increasing both sales and profitability for the company.
Mr.Anjali Rattan, Co-Chairperson of Rattan India Enterprises (the parent company of Revolt Motors), said, “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.”
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