Union Cabinet approves PM E-Drive scheme with outlay of Rs 10,900 crore
The Government of India has launched the "PM Electric Drive Revolution in Innovative Vehicle Enhancement" (PM E-Drive) initiative, aimed at boosting the adoption of electric vehicles (EVs). However, this new scheme does not cover electric or hybrid cars used for private or shared mobility, which marks a departure from previous EV policies.
The PM E-Drive scheme replaces the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) initiative, which was in effect from April 2015 to March 2024, across two phases. In the last phase, the government subsidized 13,21,800 EVs with a total outlay of Rs 11,500 crore.
Following the conclusion of FAME, the government approved Rs 500 crore for the Electric Mobility Promotion Scheme (EMPS) 2024, which was initially valid for four months and extended until 30 September 2024. Earlier this week, Union Minister HD Kumaraswamy revealed EMPS would continue until FAME III is implemented.
The PM E-Drive initiative focuses exclusively on electric two-wheelers, three-wheelers, buses, trucks, and ambulances. The scheme has a total outlay of Rs 10,900 crore for a period of two years.
As part of the initiative, 100% support will be provided for the development of charging infrastructure at 88,500 sites, said Ashwini Vaishnaw, Minister of Information and Broadcasting. However, he clarified that the PM E-Drive does not include any incentives for electric or hybrid cars.
A significant portion of the budget is allocated to the development of charging infrastructure. With an expenditure of Rs 2,000 crore, the government plans to install 22,100 fast chargers for electric cars, 1,800 fast chargers for electric buses, and 48,400 fast chargers for electric two- and three-wheelers in select locations.
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