INDUSTRY
Cabinet nod for Rs 10,900-crore PM E-DRIVE – replacing FAME – to spur EVs
- IBJ Bureau
- Sep 12, 2024
The Union Cabinet on Wednesday approved the PM E-DRIVE Scheme with an outlay of Rs 10,900 crore for two years to boost adoption of electric vehicles (EVs) in India, replacing the flagship FAME programme that ran for nine years till March.
Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) Scheme was launched in April 2015.
The decision on PM Electric Drive Revolution In Innovative Vehicle Enhancement (PM E-DRIVE) Scheme was taken at the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, Information and Broadcasting Minister Ashwini Vaishnaw told reporters on Wednesday.
The scheme would support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses.
The PM E-DRIVE would also support 88,500 charging sites, Vaishnaw said.
The new scheme offers subsidies or demand incentives worth Rs 3,679 crore to incentivise adoption of electric two-wheelers, electric three-wheelers, e-ambulances, e-trucks and other emerging EVs.
A sum of Rs 4,391 crore has also been provided for procurement of 14,028 e-buses by State transport undertakings and public transport agencies.
Besides, Rs 500 crore has been earmarked for the deployment of e-ambulances. This is a new initiative of the government to promote the use of e-ambulance for a comfortable patient transport.
A sum of Rs 500 crore has been provided for incentivising adoption of e-trucks.
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