Auto Industry Welcomes PM e-DRIVE Scheme to Boost EV Adoption

13 Sep 2024 CW Team

With a budget of Rs 109 billion, the scheme is set to support the deployment of 2,479,000 electric two-wheelers, 316,000 electric three-wheelers, and 14,028 electric buses, as well as establish 88,500 EV charging stations.

Shailesh Chandra, President of SIAM and Managing Director of Tata Motors Passenger Vehicles & Tata Passenger Electric Mobility, voiced strong approval for the initiative. He noted that the scheme demonstrates the government's firm commitment to India's shift towards electric mobility, fostering innovation and investment in the sector. Chandra anticipated that the scheme would not only bolster the growth of the EV ecosystem but also enhance India’s position in the global drive towards environmental sustainability.

Dr Anish Shah, Group CEO & MD of the Mahindra Group, also lauded the government's efforts, emphasising the comprehensive nature of the PM e-DRIVE scheme. Shah praised the initiative for its focus on two-wheelers, three-wheelers, electric buses, and the thoughtful inclusion of electric ambulances, predicting that it would significantly increase EV adoption in the country. He highlighted that previous schemes like FAME and EMPS had already boosted the penetration of electric three-wheelers, and he expected the PM e-DRIVE scheme to help India achieve 100 per cent electrification in this segment by 2030.

The Union Cabinet approved the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme' on Wednesday, allocating a total of Rs 109 billion over two years. This includes Rs 36.79 billion for subsidies and demand incentives for electric two-wheelers, three-wheelers, e-ambulances, e-trucks, and other emerging electric vehicles. The scheme is anticipated to support the deployment of 2.479 million electric two-wheelers, 03.16 million electric three-wheelers, and 14,028 electric buses, giving a significant boost to India’s EV ecosystem.

The Society of Indian Automobile Manufacturers (SIAM) and major automotive companies have praised the Cabinet's decision to implement the PM e-DRIVE scheme, which aims to advance electric mobility throughout the country. With a budget of Rs 109 billion, the scheme is set to support the deployment of 2,479,000 electric two-wheelers, 316,000 electric three-wheelers, and 14,028 electric buses, as well as establish 88,500 EV charging stations. Shailesh Chandra, President of SIAM and Managing Director of Tata Motors Passenger Vehicles & Tata Passenger Electric Mobility, voiced strong approval for the initiative. He noted that the scheme demonstrates the government's firm commitment to India's shift towards electric mobility, fostering innovation and investment in the sector. Chandra anticipated that the scheme would not only bolster the growth of the EV ecosystem but also enhance India’s position in the global drive towards environmental sustainability. Dr Anish Shah, Group CEO & MD of the Mahindra Group, also lauded the government's efforts, emphasising the comprehensive nature of the PM e-DRIVE scheme. Shah praised the initiative for its focus on two-wheelers, three-wheelers, electric buses, and the thoughtful inclusion of electric ambulances, predicting that it would significantly increase EV adoption in the country. He highlighted that previous schemes like FAME and EMPS had already boosted the penetration of electric three-wheelers, and he expected the PM e-DRIVE scheme to help India achieve 100 per cent electrification in this segment by 2030. The Union Cabinet approved the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme' on Wednesday, allocating a total of Rs 109 billion over two years. This includes Rs 36.79 billion for subsidies and demand incentives for electric two-wheelers, three-wheelers, e-ambulances, e-trucks, and other emerging electric vehicles. The scheme is anticipated to support the deployment of 2.479 million electric two-wheelers, 03.16 million electric three-wheelers, and 14,028 electric buses, giving a significant boost to India’s EV ecosystem.

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