Cabinet approves Rs 10,900 crore for PM E-DRIVE initiative, focusing on e-2Ws, e-3Ws, e-buses, e-trucks

In a major push to accelerate electric mobility in India, the Union Cabinet has given its nod to a comprehensive scheme with an outlay of Rs 10,900 crore. The ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)’ scheme aims to promote the adoption of electric vehicles (EVs) across various segments, including two-wheelers, three-wheelers, buses, and trucks.

The Ministry of Heavy Industries (MHI) has designed the PM E-DRIVE scheme to provide substantial subsidies and demand incentives to encourage the purchase of EVs. The scheme will support the deployment of 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 electric buses.

To make it easier for consumers to avail of the benefits, the government is introducing e-vouchers. Buyers can obtain these vouchers through a simple online process and redeem them at authorised dealers.

The scheme also addresses the concerns of range anxiety by focusing on the installation of electric vehicle public charging stations (EVPCS). A significant portion of the allocated funds will be used to set up 22,100 fast chargers for four-wheelers, 1800 fast chargers for buses, and 48,400 fast chargers for two-wheelers and three-wheelers.

In addition to the demand incentives, the scheme includes provisions for promoting electric ambulances and e-trucks. These initiatives are aimed at reducing air pollution and improving public health.