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.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

Real Estate

06 Apr 2026

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

Real Estate

06 Apr 2026

Domicil Debuts In Tricity With Luxe 9 Showcase

Domicil Germany, a luxury home furnishing brand from the House of HTL International, has made its Tricity debut with an exclusive showcase at Luxe 9, marking its first retail presence in the region.The invite-only event brought together architects, interior designers, real estate developers and high-net-worth individuals, reflecting rising demand for globally inspired, design-led living spaces.Centred on the theme ‘Celebrate Living with Timeless German Design’, the showcase highlighted Domicil’s focus on combining craftsmanship, functionality and refined aesthetics. Attendees experienced..