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 in India, replacing the flagship FAME programme that ran for nine years till March.
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 here.
The scheme will support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses.
The PM E-DRIVE will also support 88,500 charging sites, Vaishnaw said.
The new scheme offers subsidies/demand incentives worth Rs 3,679 crore to incentivise adoption of electric two-wheelers, electric three-wheelers, e-ambulances, e-trucks and other emerging elecric vehicles (EVs).
A sum of Rs 4,391 crore has also been provided for procurement of 14,028 e-buses by state transport undertaking
