The Society of Indian Automobile Manufacturers (SIAM) and key players in the automotive industry have warmly welcomed the Indian Cabinet’s decision to launch the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme. This ambitious program is designed to accelerate the adoption of electric vehicles (EVs) throughout the country.

With an investment of Rs 10,900 crore, the scheme aims to support the deployment of 2,479,000 electric two-wheelers (e-2Ws), 316,000 electric three-wheelers (e-3Ws), and 14,028 electric buses. Additionally, it includes the establishment of 88,500 EV charging stations across India, representing a significant advancement in EV infrastructure.

Shailesh Chandra, President of SIAM and Managing Director of Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, praised the initiative for its forward-looking approach. "This scheme demonstrates the Government's strong commitment to promoting electric mobility in India", Chandra said. "It will drive innovation and investment in the sector while reinforcing India’s global leadership in environmental sustainability".

Dr. Anish Shah, Group CEO and Managing Director of Mahindra Group, also endorsed the scheme, highlighting its thorough and inclusive nature. "We commend the government for the PM e-DRIVE scheme," Shah stated. "The focused support for electric two-wheelers, three-wheelers, e-buses, and the new e-ambulances will significantly boost EV adoption across India".

Mahindra & Mahindra (M&M) acknowledged the positive effects of prior initiatives like FAME and EMPS, which have already driven considerable growth in electric three-wheelers in India. "Investment in fast-charging infrastructure for various vehicle categories will enhance consumer confidence in EVs", Shah added. "With the PM e-DRIVE scheme, we foresee India leading the world in achieving 100 percent electrification of three-wheelers by 2030".

The Union Cabinet's endorsement of the PM e-DRIVE scheme includes a Rs 3,679 crore allocation for subsidies and incentives for electric two-wheelers, three-wheelers, e-ambulances, e-trucks, and other emerging EVs. The scheme is expected to deploy 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, significantly boosting the EV ecosystem in India.

A notable component of the scheme is the introduction of Aadhaar-authenticated e-vouchers for EV buyers, allowing them to claim incentives at the time of purchase. Additionally, Rs 500 crore will be allocated for the deployment of e-ambulances, integrating electric vehicles into essential public services for the first time.

The scheme also includes Rs 4,391 crore for acquiring 14,028 e-buses through a demand aggregation process managed by CESL in major cities such as Delhi, Mumbai, and Bangalore. Support will also extend to intercity and interstate e-buses in collaboration with state governments.

Furthermore, Rs 500 crore is set aside to encourage the adoption of e-trucks, targeting the reduction of pollution from traditional trucks. The scheme also incentivizes participants with scrapping certificates from approved vehicle scrapping centers, facilitating the transition to cleaner vehicles.

An additional Rs 2,000 crore will fund the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be strategically placed in high EV-penetration cities and along key highways, making long-distance EV travel more feasible.

The PM e-DRIVE scheme marks a significant milestone in India’s journey towards electric mobility, promising to accelerate EV adoption and advance the country’s EV infrastructure.