The Government of India has launched the PM e-Drive scheme to promote electric vehicles (EVs). Under this, consumers get a subsidy from the government while purchasing a two-wheeler. The scheme aims to promote electric mobility in the country, reduce pollution and strengthen EV charging infrastructure. It is getting a good response and you must have seen an increase in the number of electronic vehicles on the roads. Now the government has recently decided to speed up the subsidy process for electric two-wheelers under this scheme. Earlier, it took 40 days to get the EV subsidy. Now, the benefit will be available in just 5 days.
What is the PM e-Drive scheme?
The Union Cabinet had approved the launch of this scheme on September 29, 2024 to promote electric vehicles. So, the scheme has been implemented from October 1, 2024 and will be applicable till March 31, 2026. This scheme with a budget of Rs 10,900 crore has been launched mainly to provide subsidies to vehicles like electric two-wheelers, three-wheelers, buses, trucks and ambulances. The aim is to promote 24.79 lakh electric two-wheelers and 3.16 lakh 3-wheelers.
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Subsidy for electric two-wheelers
Under the PM e-Drive scheme, electric two-wheeler buyers are given a subsidy of Rs 10,000 in the first year and Rs 5,000 in the second year. Popular brands like Ola, Ather, TVS and Bajaj Chetak come under this scheme.
How to avail the benefits of the PM e-Drive scheme?
To avail the benefits of this scheme, first go to the PM e-Drive portal and apply for an e-voucher. Now buy an eligible EV and sign the e-voucher. Along with this, upload the e-voucher on the portal along with the dealer. If all these things seem difficult, your two-wheeler dealer also does these things. So there is no reason to worry.