Boosting Electric Mobility: Mahindra and Tata Praise PM E-Drive Scheme

Home-grown auto majors Mahindra & Mahindra and Tata Motors have hailed the PM e-drive scheme, approved by the Union Cabinet with an outlay of Rs 14,335 crore. The scheme aims to accelerate the adoption of electric vehicles in India, including buses, ambulances, and trucks, supporting 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses.

Home-grown auto majors Mahindra & Mahindra and Tata Motors hailed the recently approved PM e-drive scheme, emphasizing its potential to significantly boost electric vehicle (EV) adoption in India.

On September 11, the Union Cabinet sanctioned Rs 14,335 crore for two major schemes aimed at promoting EV use, specifically targeting buses, ambulances, and trucks. The move was lauded by industry leaders, including Mahindra Group CEO Anish Shah and Tata Motors Executive Director Girish Wagh.

The PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, with Rs 10,900 crore over two years, and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme, with Rs 3,435 crore, are set to revolutionize India's EV landscape. The initiative aims to surpass 100% electrification in this segment by 2030 while boosting infrastructure and consumer confidence.

(With inputs from agencies.)