Govt launches PM E-DRIVE subsidy scheme

04 Oct 2024 CW Team

The existing Electric Mobility Promotion Scheme (EMPS-2024), which runs from April 1, 2024, to September 30, 2024, will be incorporated into the PM E-DRIVE initiative.

Under the PM E-DRIVE scheme, the subsidy for electric two-wheelers will be set at ₹5,000 per kilowatt hour based on battery power, with an overall cap of ₹10,000 in the first year. In the second year, the subsidy will decrease to ₹2,500 per kilowatt hour, with a maximum benefit of ₹5,000. Leading electric scooter manufacturers such as Ola, TVS, Ather Energy, Hero Vida (Hero Motocorp), and Chetak Bajaj offer battery capacities ranging from 2.88 to 4 kWh, priced between ₹90,000 and ₹1.5 lakh.

At the launch event, Hanif Qureshi, Additional Secretary in the Ministry of Heavy Industries, announced the introduction of a mobile app to streamline the process of generating e-vouchers for subsidies. “One vehicle per Aadhaar will be allowed. An e-voucher will be generated upon vehicle sale,” he stated.

Additionally, ₹780 crore will be allocated for upgrading testing facilities under the PM E-DRIVE scheme, facilitating the acquisition of new equipment and technology for EV testing.

The scheme has earmarked ₹3,679 crore in subsidies for various electric vehicles, including e-two-wheelers, e-three-wheelers, e-ambulances, e-trucks, and other emerging EVs, supporting 24.79 lakh e-two-wheelers, 3.16 lakh e-three-wheelers, and 14,028 e-buses.

Three-wheelers, such as e-rickshaws, will receive a demand incentive of ₹25,000 in the first year, reduced to ₹12,500 in the second year. Cargo three-wheelers (L5 category) will receive ₹50,000 in the first year and ₹25,000 in the second year.

The Ministry of Heavy Industries will introduce e-vouchers for EV buyers to access demand incentives. At the point of purchase, an Aadhaar-authenticated e-voucher will be generated. Buyers will receive a link to download the e-voucher on their registered mobile numbers, which must be signed and submitted to the dealer to claim incentives.

The dealer will also sign and upload the e-voucher on the PM E-DRIVE portal, with copies sent to both the buyer and dealer via SMS. The signed e-voucher is essential for OEMs to claim reimbursement for demand incentives.

Additionally, ₹500 crore has been allocated to incentivize e-trucks, with benefits extended to those presenting scrapping certificates from MoRTH-approved vehicle scrapping centers.

To combat range anxiety among EV buyers, the scheme promotes the installation of public electric vehicle charging stations (EVPCS) in cities with high EV adoption and selected highways. Plans include installing 22,100 fast chargers for e-four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for e-two- and three-wheelers, with an outlay of ₹2,000 crore dedicated to EVPCS.

The government launched the PM E-DRIVE Scheme, allocating ₹10,900 crore to accelerate the adoption of electric vehicles (EVs), establish charging infrastructure, and develop an EV manufacturing ecosystem in India. The scheme will be implemented from October 1, 2024, to March 31, 2026.The existing Electric Mobility Promotion Scheme (EMPS-2024), which runs from April 1, 2024, to September 30, 2024, will be incorporated into the PM E-DRIVE initiative.Under the PM E-DRIVE scheme, the subsidy for electric two-wheelers will be set at ₹5,000 per kilowatt hour based on battery power, with an overall cap of ₹10,000 in the first year. In the second year, the subsidy will decrease to ₹2,500 per kilowatt hour, with a maximum benefit of ₹5,000. Leading electric scooter manufacturers such as Ola, TVS, Ather Energy, Hero Vida (Hero Motocorp), and Chetak Bajaj offer battery capacities ranging from 2.88 to 4 kWh, priced between ₹90,000 and ₹1.5 lakh.At the launch event, Hanif Qureshi, Additional Secretary in the Ministry of Heavy Industries, announced the introduction of a mobile app to streamline the process of generating e-vouchers for subsidies. “One vehicle per Aadhaar will be allowed. An e-voucher will be generated upon vehicle sale,” he stated.Additionally, ₹780 crore will be allocated for upgrading testing facilities under the PM E-DRIVE scheme, facilitating the acquisition of new equipment and technology for EV testing.The scheme has earmarked ₹3,679 crore in subsidies for various electric vehicles, including e-two-wheelers, e-three-wheelers, e-ambulances, e-trucks, and other emerging EVs, supporting 24.79 lakh e-two-wheelers, 3.16 lakh e-three-wheelers, and 14,028 e-buses.Three-wheelers, such as e-rickshaws, will receive a demand incentive of ₹25,000 in the first year, reduced to ₹12,500 in the second year. Cargo three-wheelers (L5 category) will receive ₹50,000 in the first year and ₹25,000 in the second year.The Ministry of Heavy Industries will introduce e-vouchers for EV buyers to access demand incentives. At the point of purchase, an Aadhaar-authenticated e-voucher will be generated. Buyers will receive a link to download the e-voucher on their registered mobile numbers, which must be signed and submitted to the dealer to claim incentives.The dealer will also sign and upload the e-voucher on the PM E-DRIVE portal, with copies sent to both the buyer and dealer via SMS. The signed e-voucher is essential for OEMs to claim reimbursement for demand incentives.Additionally, ₹500 crore has been allocated to incentivize e-trucks, with benefits extended to those presenting scrapping certificates from MoRTH-approved vehicle scrapping centers.To combat range anxiety among EV buyers, the scheme promotes the installation of public electric vehicle charging stations (EVPCS) in cities with high EV adoption and selected highways. Plans include installing 22,100 fast chargers for e-four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for e-two- and three-wheelers, with an outlay of ₹2,000 crore dedicated to EVPCS.

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