Abstract:

The Ministry of Heavy Industry, Government of India, with the approval of the Union Cabinet led by Hon'ble Prime Minister Shri Narender Modi, has launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, as per Gazette notification S.O. 4259 (E) dated September 29, 2024. The initiative will be executed from October 1, 2024, to March 31, 2026. Additionally, the vehicle count and expenditures for EMPS-2024 concerning e-2w and e-3w, scheduled from 1st April 2024 to 30th September 2024, will be incorporated into the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme, resulting in a two-year effective period for the scheme. The PM E-DRIVE initiative is set to be executed via the subsequent components: Financial assistance provided by the government. Incentives for the demand of e-motorcycles, e-three-wheelers, e-ambulances, e-trucks, and other growing categories of electric vehicles. Funding for the development of capital assets: electric buses, the installation of a charging station network, and the enhancement of testing agencies of MHI, together with the administration of the scheme, including Information, Education, and Communication (IEC) activities and fees for the project management agency (PMA).