New Delhi
The Society of Indian Automobile Manufacturers (SIAM) and major auto industry leaders have praised the recent Cabinet approval of the PM e-DRIVE scheme, a Rs 10,900 crore initiative designed to advance electric mobility in India.
This scheme will fund 2.48 million electric two-wheelers, 316,000 electric three-wheelers, 14,028 electric buses, and 88,500 EV charging stations. Shailesh Chandra, President of SIAM and Managing Director of Tata Motors Passenger Vehicles Ltd, expressed enthusiasm for the plan, noting it underscores the government’s commitment to driving electric vehicle (EV) innovation and investment. He believes it will bolster the EV sector and position India as a leader in global environmental efforts.
Anish Shah, Group CEO & MD of Mahindra Group, also lauded the initiative, praising its broad scope that includes e-ambulances alongside two-wheelers, three-wheelers, and buses. Shah highlighted that past schemes like FAME and EMPS have already improved the adoption of electric three-wheelers, and he anticipates the PM e-DRIVE will help achieve 100% electrification in this segment by 2030.
The PM e-DRIVE scheme, which will be implemented over two years, includes Rs 3,679 crore in subsidies for various electric vehicles, including e-trucks and e-ambulances. It also introduces e-vouchers for EV buyers and allocates Rs 500 crore for e-ambulances and Rs 4,391 crore for e-buses, aiming to enhance India’s EV infrastructure. Additionally, Rs 2,000 crore is set aside for installing 22,100 fast chargers for various types of EVs, supporting the transition to electric transportation.
