Government Launched the Rs 10,900 crore PM e-Drive scheme on Tuesday, October 1. The objective of this scheme is to promote electric vehicles in India, establish charging infra and encourage the development of EV manufacturing ecosystem. This scheme will remain in force till March 31, 2026. Along with this, EMPS-2024 (Electric Mobility Promotion Scheme) implemented from April 1, 2024 to September 30, 2024 will be included in the PM e-Drive scheme.
How will the subsidy be given?
Under the PM e-Drive scheme, the subsidy for electric two-wheelers has been fixed at Rs 5,000 per kilowatt hour depending on the battery power. In the second year of the scheme, it will be halved to Rs 2,500 per kilowatt hour and the total benefits will not exceed Rs 5,000. Currently, the battery capacity of companies like Ola, TVS, Ather Energy, Hero Vida (Hero MotoCorp) and Bajaj Chetak ranges from 2.88 to 4 kWh. Their price starts from Rs 90,000 to Rs 1.5 lakh.
App will be launched to make the process easier
Introducing the scheme, Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, said that to simplify the entire process, a mobile app will be launched through which e-voucher can be generated to avail subsidy under the scheme. He said that one vehicle will be allowed for one base. As soon as the vehicle is sold, the e-voucher will be ready. He further informed that Rs 780 crore has been earmarked to improve testing facilities under the PM e-Drive scheme.
24.79 lakh electric two-wheelers will get subsidy
Under the PM e-Drive scheme, a subsidy of Rs 3,679 crore has been given to encourage E-2W, E-3W, e-ambulance, e-truck and other EVs. Under the scheme, subsidy will be given for 24.79 lakh electric two-wheelers (E-2W), 3.16 lakh electric three-wheelers (E-3W) and 14,028 e-buses. Three wheelers including e-rickshaws will get an incentive of Rs 25,000 in the first year, which will be halved to Rs 12,500 in the second year.
