India's ₹10,900 crore PM E-DRIVE scheme to electrify 28 lakh vehicles

By Vivek Dubey

CNBC-TV18.com

Published Sept 13, 2024

Scheme Overview

The PM E-DRIVE Scheme promotes electric mobility with a two-year budget of ₹10,900 crore. Its primary aim is to encourage the adoption of electric vehicles across India.

Demand Incentives

₹3,679 crore in subsidies will support the adoption of e-2Ws, e-3Ws, e-ambulances, e-trucks, and e-buses, covering 28.3 lakh electric vehicles in total.

E-Vouchers for Buyers

Buyers will receive Aadhaar-authenticated e-vouchers to access subsidies at purchase. These vouchers are digitally signed by the buyer and dealer for incentive claims.

E-Ambulance Initiative

₹500 crore is dedicated to deploying e-ambulances, promoting eco-friendly patient transport, with performance standards developed with key stakeholders.

E-Bus Deployment

₹4,391 crore will fund 14,028 e-buses in nine large cities. Cities scrapping old buses will be prioritised for new allocations, ensuring cleaner public transport.

E-Truck Promotion

To curb air pollution, ₹500 crore will incentivise the adoption of e-trucks, with scrapping certificates from authorised centres required to avail benefits.

EV Charging Infrastructure

₹2,000 crore will support the installation of 72,300 fast chargers across high EV penetration cities and highways, addressing range anxiety and boosting EV adoption.

Testing Facilities Upgradation

₹780 crore will modernise MHI’s testing agencies to handle emerging green mobility technologies, ensuring efficient evaluation of new electric vehicles.

Focus on Mass Mobility

The scheme promotes public transport, aiming to reduce transportation's environmental impact and improve air quality through widespread EV adoption.

Aatmanirbhar Bharat Focus

A phased manufacturing programme will strengthen India's EV supply chain, encouraging domestic production and making the country self-reliant in sector.

Employment Opportunities

The scheme will spur investments in EV manufacturing, infrastructure, and supply chains, creating significant employment across these industries.