Govt approves two schemes with outlay of Rs 14,335 crore to promote EVs

New Delhi: The Union Cabinet on Wednesday approved two major schemes with a total outlay of Rs 14,335 crore to promote use of electric vehicles, including buses, ambulances and trucks.

The two schemes are: PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme with an outlay of Rs 10,900 crore over a period of two years, and PM-eBus Sewa-Payment Security Mechanism (PSM) scheme with a budget of Rs 3,435 crore.

Briefing media about the decisions taken at the Union Cabinet, Information and Broadcasting Minister Ashwini Vaishnaw said the PM E-DRIVE Scheme is a major decision towards bringing down pollution.

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Under the scheme, subsidies/demand incentives worth Rs 3,679 crore have been provided for e-2Ws (electric two-wheelers), e-3Ws (electric three-wheelers), e-ambulances, e-trucks and other emerging EVs.

The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses.

An official release said the ministry of heavy industries (MHI) is introducing e-vouchers for EV buyers to avail demand incentives under the scheme. At the time of purchase of the EV, the scheme portal will generate an Aadhaar-authenticated e-Voucher for the buyer.

Further, the PM E-DRIVE allocates Rs 500 crore for the deployment of e-ambulances.

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