PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) Scheme

Approval and Budget: The Union Cabinet approved a scheme with an allocation of ₹10,900 crore for the procurement of e-buses and the establishment of over 72,000 EV charging stations.

Scheme Duration: The PM E-Drive scheme will be in effect for two years.

Key Features:

• Subsidies and Incentives: The scheme includes subsidies totalling ₹3,679 crore for e-two wheelers (e-2Ws), e-three wheelers (e-3Ws), e-ambulances, and e-trucks.

• Targeted Support: It aims to support the purchase of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses.

• E-Bus Procurement: ₹4,391 crore is allocated for procuring e-buses, focusing on 9 major cities with populations over 40 lakh, including Delhi, Mumbai, Kolkata, and others.

Charging Infrastructure: ₹2,000 crore will be used to set up charging stations in cities with high EV usage and on specific highways to alleviate range anxiety among electric vehicle owners.