Mahindra and Tata Motors Hail PM E-Drive Scheme

The PM E-Drive scheme is celebrated by Mahindra & Mahindra and Tata Motors for promoting the adoption of electric vehicles in India. With an outlay of Rs 14,335 crore, the initiative aims for 100% EV penetration by 2030, focusing on various vehicle segments and fast-charging infrastructure.

Home-grown auto majors Mahindra & Mahindra and Tata Motors have expressed strong support for the PM E-Drive scheme, which aims to enhance electric vehicle (EV) adoption in India.

On September 11, the Union Cabinet approved two significant initiatives totaling Rs 14,335 crore to promote the use of EVs, including buses, ambulances, and trucks. The PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme have separate budgets of Rs 10,900 crore and Rs 3,435 crore, respectively.

Mahindra Group CEO Anish Shah believes the scheme will increase EV penetration due to its inclusive focus on two-wheelers, three-wheelers, e-buses, and e-ambulances. Investments in fast-charging infrastructure will boost consumer confidence for faster adoption.

(With inputs from agencies.)