Government Launches ₹10,900 Crore PM E-DRIVE Scheme to Revolutionize Electric Vehicles

In a major decision to promote electric vehicles in the country, the Narendra Modi-led central government has approved the PM E-DRIVE (PM Electric Drive Revolution in Innovative Vehicle Enhancement) scheme. The Cabinet meeting chaired by the Prime Minister has sanctioned an expenditure of ₹10,900 crore under this scheme to encourage electric mobility across India. The scheme includes a grant of ₹3,679 crore to support electric two-wheelers, three-wheelers, ambulances, trucks, and other emerging electric vehicles. Under this initiative, 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 electric buses will receive support.
 

The Cabinet has approved this proposal from the Ministry of Heavy Industries, with the scheme set to be implemented over the next two years. The Ministry of Heavy Industries will introduce e-vouchers for buyers of electric vehicles, allowing them to benefit from the incentives provided under the scheme. When purchasing an electric vehicle, buyers will generate an e-voucher through a scheme-related portal using Aadhaar authentication. 

A link to download the e-voucher will be sent to the registered mobile number of the buyer. Once the buyer signs the e-voucher, it must be submitted to dealers to avail of the scheme’s incentives. After dealer approval, the voucher will be uploaded to the PM E-DRIVE portal. Signed vouchers will be sent via SMS to both the buyer and the dealer. The signed e-voucher is crucial for OEMs to claim reimbursement under the scheme. The PM E-DRIVE scheme allocates ₹500 crore for electric ambulances, ₹4,391 crore for electric bus purchases under state public transport enterprises, and ₹500 crore to incentivize electric trucks.