The Central Government is introducing a new scheme called PM e-Drive from October 1, 2024, to promote the use of electric vehicles.
The scheme aims to create EV charging infrastructure and increase the adoption of electric vehicles.
The inaugural function will be held on October 1 at the Bharat Mandapam in Delhi. Union Minister of Heavy Industries HD Kumaraswamy and Minister of State Bhupathi Raju Srinivasa Varma will attend.
The government has allocated Rs.10,900 crore for this scheme, which will be in effect from October 1, 2024, to March 31, 2026, as per the gazette notification issued by the central government.
Under the PM e-Drive scheme, concessions will be provided for electric scooters, bikes, autos, e-ambulances, trucks, and buses.
The government has earmarked Rs.4,391 crore for buses and Rs.1772 crore for two-wheelers. Electric two-wheelers and three-wheelers will receive a subsidy of Rs.5,000 per kilowatt in 2024-25 and Rs.2,500 per kilowatt in the following year.
Electric scooters and bikes will be eligible for a maximum subsidy of Rs.10,000 in the first year, while e-rickshaws will receive a subsidy of Rs.25,000 in the first year and Rs.12,500 in the second year.
Cargo three-wheelers (L5 category) will be eligible for a maximum subsidy of Rs.50,000 in the first year and Rs.25,000 in the second year.
Buyers and dealers must sign and upload Aadhaar-verified e-IDs and a selfie with the vehicle on the PM e-Drive portal.
The government will implement the PM e-Drive scheme to replace the existing short-term scheme with an allocation of Rs.778 crore, expiring September 30, 2024. The new PM e-Drive scheme will be in effect for two years.