The Ministry of Heavy Industries (MHI) has announced the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-Drive) scheme. With an outlay of Rs 109 billion, this initiative is designed to accelerate the adoption of electric vehicles (EVs) and support the establishment of a robust charging infrastructure across India.
The scheme will be effective from October 1, 2024 to March 31, 2026. PM E-Drive subsumes elements from the earlier Electric Mobility Promotion Scheme 2024 (EMPS-2024), continuing support for electric two-wheelers and three-wheelers.
The scheme is structured to provide incentives for EV buyers and support for the creation of charging stations. The government is targeting the deployment of electric buses, electric ambulances, and newly emerging electric vehicle categories under this program. By doing so, the initiative aims to reduce vehicle acquisition costs and boost the demand for environmentally friendly public transport options. State governments are expected to play a significant role, offering incentives such as road tax exemptions, reduced parking fees, and registration fee waivers to EV buyers. The Ministry of Heavy Industries will oversee the scheme’s implementation and ensure collaboration with relevant stakeholders.
