‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)’ Scheme, approved by Cabinet recently with a financial outlay of Rs.10,900 crore, has come into effect from October 1, 2024, and will remain in force until March 31, 2026. Its primary aim is to accelerate the adoption of electric vehicles (EVs), establish charging infrastructure, and build a robust EV manufacturing ecosystem in the country.
- Ministry
- Ministry of Heavy Industries (MHI) of the Government of India
- Aims
- Advance Electric Vehicle adoption and hence charging infrastructure and builds a robust indigenous EVM ecosystem.
- It encourages mass mobility through the development of Public transport systems.
Key Features
- Features
- Offers 80% maximum subsidy for all charging points installation across the country.
- Provision of ₹2,000 crore for establishing the fast-charging points in a total of 72,300 points, which will include 48,400 for electric two and three wheelers, 22,100 for electric cars, and 1,800 for electric buses and trucks.
- Focus
- It will mainly focus on upgrading the present 1,300 charging points in India, especially in 40 identified cities and 40 highway corridors.
- Charging Infrastructure
- On the general note, it also emphasizes India’s underdeveloped charging infrastructure, with Evs supposedly having a market share of about 7.5% by 2025.
- Subsidy
- Points out the significance of the effectiveness of the subsidy-disbursal mechanism for the success of the scheme.
- Public Transportation
- Stimulates the using of electric buses and trucks to mitigate environmental as well as logistic challenges posed by diesel-powered vehicles.
- Major Drawback
- Digs into the problem on the part of the deficiency of charging stations, an important hurdle in the EV market development.
