New Delhi: The Union Cabinet gave the green light to two significant schemes worth Rs 14,335 crore to encourage the adoption of electric vehicles (EVs), such as buses, ambulances, and trucks. The PM E-DRIVE scheme and PM-eBus Sewa-PSM scheme have budgets of Rs 10,900 crore and Rs 3,435 crore, respectively, spread out over two years.
The PM E-DRIVE scheme, introduced to replace the previous FAME scheme in 2015 with an initial budget of approximately Rs 900 crore, focuses on promoting electric and hybrid vehicles. Following that came FAME-II, which had a budget of Rs 11,500 crore. Following the success of FAME, the government has launched PM E-DRIVE to reach carbon emission reduction objectives and accomplish EV penetration goals, according to Information and Broadcasting Minister Ashwini Vaishnaw.
In June, Business Standard stated that the proposed plan for boosting EVs was projected to have a budget of Rs 10,600 crore. The PM E-DRIVE initiative aims to provide assistance to 2.47 million electric two-wheelers (e2Ws), 316,000 electric three-wheelers (e3Ws), and 14,028 e-buses. Subsidies and demand incentives totaling Rs 3,679 crore are provided to promote the usage of e2Ws, e3Ws, e-ambulances, e-trucks, and other upcoming EVs. Nevertheless, incentives for electric vehicles are not included in the program.
In an innovative move, the Ministry of Heavy Industries (MHI) will implement e-vouchers for EV purchasers to receive demand incentives. During the purchase, the online platform will create an Aadhaar-verified electronic coupon for the purchaser. The buyer's registered mobile number will receive a link to download the e-voucher.
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