PM E-DRIVE Scheme

Current Context : The Union Cabinet has approved the proposal for implementation of scheme titled ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme’. 

• The scheme has an outlay of Rs 10,900 crore over a period of two years and a Payment Security Mechanism (PSM) of ₹3,435.33 crore under PM-eBus Sewa in a boost to electrification of vehicles.

The major components of the scheme are as under:

• Subsidies and Incentives :Total subsidies/demand incentives of Rs.3,679 crore.
• Targets:79 lakh e-2Ws, 3.16 lakh e-3Ws, 14,028 e-buses.

Features:

• e-Vouchers System : Introduction of Aadhaar-authenticated e-vouchers for EV buyers.
  • Process involves buyer and dealer signatures, and e-voucher submission on the PM E-DRIVE portal.
• e-Ambulances : Allocation of Rs.500 crore for e-ambulances.
  • Performance and safety standards to be set in consultation with relevant ministries.
• e-Buses : 4,391 crore allocated for 14,028 e-buses for STUs/public transport agencies.
  • Focus on nine major cities and intercity/interstate buses.
  • Preference for buses replacing old vehicles through authorized scrapping centers.
• e-Trucks : Rs.500 crore allocated for incentivizing e-trucks.Incentives for trucks with scrapping certificates from approved centers.
• Public Charging Stations:2,000 crore for installing 22,100 fast chargers for e-4Ws, 1,800 for e-buses, and 48,400 for e-2W/3Ws.