In an effort to encourage the nation's transition to electric vehicles, the Union Cabinet on Wednesday approved the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) programme, allocating Rs 10,900 crore over the course of two years.
The current FAME program, which ran for nine years until March, will be replaced by this scheme. However, electric vehicle subsidies will not be provided by PM E-DRIVE.
14,028 electric buses, 3.16 lakh electric three-wheelers, and approximately 25 lakh electric two-wheelers will all be supported by the program.
Information and Broadcasting Minister Ashwini Vaishnaw stated, "The decision on the PM E-DRIVE Scheme was taken at the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi."
According to Vaishnaw, 88,500 charging stations will be supported by PM E-DRIVE as well.
How to avail subsidy under PM E-DRIVE Scheme
To help EV buyers take advantage of demand incentives, the Ministry of Heavy Industries (MHI) is introducing e-vouchers.
An Aadhaar-authenticated e-voucher will be generated for the buyer by the scheme portal at the time of EV purchase. The buyer will receive a link on their registered mobile number to download the e-voucher.
Eligibility for availing the subsidy
To be eligible for a subsidy, the EV buyer must sign the e-voucher and turn it in to the dealer. Additionally, the e-voucher will be uploaded to the PM E-DRIVE portal and signed by the dealer.
The buyer and dealer will receive an SMS with the signed e-voucher. The OEM (Original Equipment Manufacturer) must sign the e-voucher in order to be eligible to receive reimbursement for demand incentives under the programme.
Total subsidy allocated by Centre
A total of Rs 3,679 crore in demand incentives and subsidies have been allocated by the scheme to encourage the adoption of electric two-wheelers, three-wheelers, trucks, and ambulances.
The government has allocated Rs 500 crore for the installation of e-ambulances and Rs 4,391 crore for the purchase of 14,028 e-buses.
The program also encourages the use of e-trucks and has allocated Rs 500 crore as a reward to stimulate their uptake.
