In a landmark decision, the Cabinet has approved the PM E-DRIVE Scheme, a new initiative aimed at accelerating the adoption of electric vehicles (EVs) across India. This scheme represents a significant push towards a sustainable future, aligning with the government’s broader vision of reducing carbon emissions and fostering green technology. The PM E-DRIVE Scheme is set to play a crucial role in transforming India’s transportation sector by making electric mobility more accessible and appealing to both consumers and businesses.
Details of the PM E-DRIVE Scheme
The PM E-DRIVE Scheme includes a range of measures designed to boost the electric vehicle market. Key features of the scheme include substantial subsidies for EV purchases, incentives for manufacturers to develop advanced battery technologies, and investments in charging infrastructure to support widespread EV adoption. The scheme also focuses on creating job opportunities in the EV sector and providing support for research and development to drive innovation. By addressing financial, technological, and infrastructural barriers, the PM E-DRIVE Scheme aims to make electric vehicles a viable and attractive option for the Indian public, contributing to the country’s environmental and economic goals.
Mr Yatin Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Ltd, said, “We wholeheartedly welcome the Cabinet’s approval of the PM E-DRIVE Scheme. With an ambitious allocation of Rs 10,900 crore, this landmark initiative represents a pivotal moment in the evolution of India’s electric mobility landscape, directly benefiting end-consumers and strengthening the broader EV ecosystem. We are particularly encouraged by the Government’s support for the adoption of 24.79 lakh e-two-wheelers (2Ws) and 3.16 lakh e-three-wheelers (3Ws), both critical to last-mile connectivity and sustainable urban transport. The decision to allocate Rs 2,000 crore towards bolstering charging infrastructure, including 48,400 fast charging stations for the 2W and 3W segment, is a testament to the Government’s commitment to alleviating customers’ anxiety and fostering confidence in EV adoption. These comprehensive measures will not only accelerate the growth of the EV market but also open up new avenues for innovation and opportunity, particularly with incentives for electric commercial vehicles, trucks, and buses. By empowering citizens and supporting cleaner, safer, and more efficient modes of transport, this progressive step will drive India towards self-reliance and a greener future. At Wardwizard, we applaud the Government’s visionary approach and reaffirm our unwavering commitment to contributing to the nation’s mission of sustainable and SAFE mobility.”