Cabinet approves PM E-DRIVE Scheme for electric vehicles

Daily Current Affairs / Cabinet approves PM E-DRIVE Scheme for electric vehicles

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Category : National Published on: September 14 2024

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The Union Cabinet has approved the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme' with an outlay of Rs 10,900 crore over two years, aimed at promoting electric mobility by providing subsidies and incentives for electric two-wheelers, three-wheelers, trucks, and buses.
The scheme includes a substantial allocation of Rs 3,679 crore specifically for electric two-wheelers (E2Ws), three-wheelers (E3Ws), and emerging EVs, and aims to support the adoption of 24.79 lakh E2Ws, 3.16 lakh E3Ws, and 14,028 electric buses, along with rolling out e-vouchers for additional customer incentives.