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Source: This post on PM E-DRIVE Scheme has been created based on the article “Cabinet approves PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme with an outlay of Rs.10,900 crore over a period of two years”, published in PIB on 12th Sep 2024.
Why in news?
The Union Cabinet has approved PM E-DRIVE Scheme to accelerate the adoption of electric vehicles (EVs) in India.
About PM E-DRIVE Scheme
| Aspects | Description |
| About | 1. PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) launched to promote EV adoption. 2. It replaces the Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II). 3. It prioritizes public transportation through incentives for electric buses and trucks. |
| Implemented by | Ministry of Heavy Industries (MHI) |
| Aim | The primary goal of PM E-DRIVE is to accelerate the transition to electric vehicles by offering upfront incentives and building a robust charging ecosystem. |
| Subsidies and Incentives | 1. Subsidies will be provided to promote electric two-wheelers (e-2Ws), three-wheelers (e-3Ws), e-ambulances, e-trucks, and other emerging EVs. 2. Support will be provided for 24.79 lakh e-2Ws, 3.16 lakh e-3Ws and14,028 e-buses. |
| Components | i) Subsidies: Incentives to stimulate demand for electric vehicles, including electric two-wheelers (e-2W), three-wheelers (e-3W), e-ambulances, e-trucks, and other emerging categories of EVs. ii) Grants for capital asset creation: Financial support will be provided for procuring electric buses (e-buses), establishing a comprehensive network of charging stations, and enhancing the Ministry of Heavy Industries (MHI) testing facilities. iii) Scheme administration, including Information, Education & Communication (IEC) activities and fees for the project management agency (PMA). |
| Features | 1. E-Vouchers: Aadhaar-authenticated e-vouchers will be introduced for EV buyers, signed by the buyer and dealer, and uploaded on the PM E-DRIVE portal to facilitate demand incentives. 2. E-Ambulances: Rs. 500 crore allocated for e-ambulances, with safety standards set in consultation with MoHFW and stakeholders. 3. E-Buses: Rs. 4,391 crore allocated for the procurement of 14,028 e-buses by state transport units. 4. Demand Aggregation will be managed by CESL in cities with populations over 40 lakh, including Delhi, Mumbai, and Kolkata. |
| Impact | 1. It reduces air pollution and fuel dependency. 2. It will create employment in EV manufacturing, supply chains, and charging infrastructure installation. |
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