New Subsidy Scheme Boosts Electric Vehicle Adoption

The PM E-DRIVE Scheme, announced by Union Heavy Industries Minister HD Kumaraswamy, offers substantial subsidies for electric two-wheelers, three-wheelers, and e-rickshaws. The initiative aims to promote electric vehicle adoption, allocate funds for e-ambulances, and ensure reliability in subsidy distribution through strict compliance measures.

The Indian government has unveiled the PM E-DRIVE Scheme, offering a significant subsidy to encourage the adoption of electric vehicles. Union Heavy Industries Minister HD Kumaraswamy announced that buyers of electric two-wheelers can receive a subsidy of up to Rs 10,000 in the first year, structured according to battery power.

Under the scheme, there will be varying levels of subsidies for different categories of vehicles, including e-rickshaws and cargo three-wheelers. To prevent misuse, an Aadhaar authenticated e-voucher will be required, and regular compliance checks will be undertaken, informed MHI Secretary Kamran Rizvi.

Additionally, the PM E-DRIVE Scheme has allocated substantial funds for e-ambulances and aims for significant penetration of electric vehicles in the market. The initiative also includes a payment security mechanism for electric bus operators, further supporting the ecosystem of electric mobility.

(With inputs from agencies.)