PM E-DRIVE subsidy scheme started in India, know about it before buying electric vehicle
News Update October 02, 2024 10:24 PM

auto news desk,The Government of India has started the PM e-Drive scheme across the country from October 1 and thousands of crores of rupees have been earmarked for this scheme, which will benefit about 20 lakh electric vehicle buyers. Actually, after the end of FAME subsidy, PM e-Drive was brought into existence by the government as a new subsidy scheme and now it has been implemented from October 1. Implemented with an outlay of Rs 10,900 crore. The PM e-Drive scheme aims to encourage faster adoption of electric vehicles, improve charging infrastructure and development of EV manufacturing ecosystem in India.

You will get so much benefit on electric scooters
Under the PM e-Drive scheme, the subsidy for electric two-wheelers has been fixed at Rs 5,000 per kilowatt hour depending on the battery power. In the second year of the scheme, it will be halved to Rs 2,500 per kilowatt hour and the total benefit will not exceed Rs 5,000. At present, the battery capacity of companies like Ola, TVS, Ather Energy, Hero Vida (Hero MotoCorp) and Chetak Bajaj ranges from 2.88 to four kilowatt hours. Their price ranges between Rs 90,000 to Rs 1.5 lakh.

All information on mobile app
While presenting the PM e-Drive scheme, Additional Secretary in the Ministry of Heavy Industries, Hanif Qureshi said that to simplify the entire process, a mobile app will be introduced, through which e-voucher can be generated to get subsidy under the scheme. He said that one vehicle will be allowed for one base. As soon as the vehicle is sold, the e-voucher will be ready. Qureshi said that Rs 780 crore has been earmarked to improve testing facilities under the PM e-Drive scheme.

How much subsidy for which segment's EV?
Under the PM e-Drive scheme, a subsidy of Rs 3,679 crore has been given to encourage electric 2-wheelers, electric 3-wheelers, electric ambulances, electric trucks and other electric vehicles. Under the scheme, subsidy will be given for 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers and 14,028 e-buses. Three-wheelers including electric-rickshaws will get an incentive of Rs 25,000 in the first year, which will be halved to Rs 12,500 in the second year.

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