Government to Launch ₹10,900 Crore PM E-DRIVE Scheme for Electric Vehicles - Read Now
The Indian government is set to officially launch the ₹10,900 crore PM E-DRIVE scheme on October 1 in New Delhi. This initiative, approved by the Cabinet earlier in September, aims to provide significant incentives for electric vehicle (EV) manufacturers, particularly those focused on two and three-wheelers, e-trucks, and e-buses.
The event will be attended by prominent figures, including HD Kumaraswamy, the Minister of Heavy Industries and Steel, and Minister of State BRS Varma. The PM E-DRIVE scheme will be effective from October 1, 2024, until March 31, 2026, and is designed to accelerate the adoption of electric vehicles across the country.
Under the new scheme, ₹3,679 crore will be allocated to incentivize the purchase of electric two-wheelers, three-wheelers, e-ambulances, e-trucks, and other emerging EVs. To streamline the process, the Heavy Industries Ministry will introduce e-vouchers for EV buyers. When a buyer purchases an EV, an Aadhaar-authenticated voucher will be generated through the scheme's portal and sent to their registered mobile number. Buyers must sign this voucher and present it to the dealer to claim their incentives. This mechanism will also allow original equipment manufacturers (OEMs) to claim reimbursements under the scheme.
Additionally, a dedicated vehicle registration portal will be launched on the same day. The PM E-DRIVE scheme also allocates funds for deploying e-ambulances, e-buses, and e-trucks, further expanding the electric vehicle ecosystem.
One of the primary goals of the scheme is to alleviate range anxiety among EV buyers. To promote confidence in electric vehicle usage, the government plans to enhance public EV charging infrastructure. The scheme proposes the installation of 22,100 fast chargers for electric four-wheelers, 1,800 for e-buses, and 48,400 for two- and three-wheelers, with a total outlay of ₹2,000 crore for EV charging infrastructure.
With this ambitious scheme, the Indian government aims to boost the electric vehicle market and promote sustainable transportation solutions.
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