Electric two-wheeler subsidy extended with PM E-Drive

- New initiative called PM E-Drive introduced

- Will cater to 24.79 lakh electric two-wheelers for subsidy

- A cumulative budget of Rs. 3,679 crore has been allocated for electric two-wheelers, and more

The Government of India has approved the Ministry of Heavy Industries’ proposal and introduced the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme. This is the latest initiative from the MHI, which is to promote the adoption of electric vehicles.

A cumulative budget of Rs. 3,679 has been allotted for electric two-wheelers, electric three-wheelers, and more. Speaking of electric two-wheelers specifically, a total of 24.79 lakh units will be able to avail of the PM E-DRIVE scheme.

Moreover, MHI is also introducing e-vouchers for EV buyers to avail of demand incentives under the scheme. During the time of purchase, the buyer will get an Aadhaar authenticated e-Voucher generated by the scheme portal. The said voucher can be downloaded from a link sent to the buyer via SMS on his/her registered phone number.

Further, the e-voucher needs to be signed by the buyer and submitted to the electric two-wheeler dealer and avail of the demand incentives under the scheme. The process further includes the dealer signing and uploading the e-voucher on the PM E-DRIVE portal. Both parties, the buyer and dealer will receive the e-voucher via SMS. Lastly, the same voucher will be essential for OEM to claim reimbursement of demand incentives under the PM E-DRIVE scheme.

The PM E-DRIVE also aims to address range anxiety by introducing 48,400 fast chargers for electric two and three-wheelers. This will be a part of the Rs. 2,000 crore overlay for the electric vehicle public charging stations (EVPCS) that will cater to four-wheelers, buses, and more.