India Accelerates EV Adoption: New PM E-DRIVE Scheme Unveiled

Union Minister HD Kumaraswamy announced the new PM E-DRIVE scheme to support the adoption of electric vehicles in India. The scheme includes e-vouchers for buyers, new charging infrastructure, and substantial incentives. The government has set ambitious targets to reduce environmental impact and promote domestic EV manufacturing.

Union Minister for Ministry of Heavy Industries, HD Kumaraswamy, declared that India is committed to creating a robust charging infrastructure to support the widespread adoption of electric vehicles (EVs). Speaking at a seminar hosted by FICCI and the Ministry of Heavy Industries, Kumaraswamy disclosed plans to introduce e-vouchers for EV buyers as part of the newly approved PM E-DRIVE (PM Electric Drive Revolution in Innovative Vehicle Enhancement) scheme, aimed at providing demand incentives.

Kumaraswamy highlighted the government's rapid progress in expanding the EV charging network, with intentions to establish 10,763 public charging stations nationwide under the FAME-II scheme. He emphasized the innovative nature of the e-vouchers, describing it as a unique feature of the new scheme, with detailed modalities to be announced shortly.

The PM E-DRIVE scheme, recently greenlit by the Union Cabinet, is designed to accelerate EV adoption through upfront incentives and essential charging infrastructure. Kumaraswamy expressed goals of minimizing the environmental footprint, enhancing air quality, and fostering a competitive electric vehicle manufacturing sector. The plan includes Rs 500 crore for e-ambulances, Rs 500 crore for electric trucks, and Rs 2,000 crore for fast chargers. Under the FAME-II scheme, significant progress has been made, with 93% of targeted vehicles incentivized and 92% of funds utilized. Public transportation has also benefited, with a notable number of e-buses already supplied.

Kamran Rizvi, Secretary of the Union Ministry of Heavy Industries, noted that the domestic value addition targets would be adjusted to leverage enhanced capabilities and position India as a global leader in electric mobility technology. Additionally, Dr. Hanif Qureshi, Additional Secretary of the same ministry, confirmed the impressive achievements under the FAME-II scheme, with more than 92% of targets met.

(With inputs from agencies.)