New Delhi: The Union Cabinet has approved two schemes with a combined outlay of Rs 14,335 crore aimed at promoting electric vehicles (EVs) across India. The initiatives include the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, with a budget of Rs 10,900 crore over two years, and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme, allocated Rs 3,435 crore.
The PM E-DRIVE Scheme is designed to reduce pollution by supporting the adoption of electric two-wheelers (e-2Ws), three-wheelers (e-3Ws), ambulances, trucks, and buses. The scheme offers subsidies and demand incentives totaling Rs 3,679 crore, covering 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses.
The Ministry of Heavy Industries (MHI) will introduce Aadhaar-authenticated e-vouchers to simplify the process for buyers to claim incentives under the scheme. This move is expected to accelerate the adoption of EVs in the country while addressing environmental concerns.
Information and Broadcasting Minister Ashwini Vaishnaw highlighted that these decisions mark a significant step toward reducing pollution and supporting the EV ecosystem in India.
