The Government of India has announced the PM E-Drive Scheme 2024, an ambitious initiative aimed at promoting the adoption of electric vehicles (EVs) across the country. With a total budget of ₹10,900 crore, this scheme is the third phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) policy. This scheme will provide a 10000 subsidy for 2-wheelers and 2-wheelers only. If you plan to buy 2-wheelers in the EV segment, So please make sure you have the Subsidy under the E-Drive Scheme of PM 2024. It is a significant step towards making India a global leader in the EV ecosystem by reducing carbon emissions and fostering a green environment. Check further details on PM E-Drive Scheme 2024 Subsidy Benefits, How to Avail Online, and How to Get the E-vouchers link.
PM E-Drive Scheme 2024 Online
Contents
| Scheme Name | PM E-Drive Scheme |
|---|---|
| Launch Date | 2024 |
| Scheme Announced | Union Minister of India, PM Narendra Modi |
| Scheme for | National |
| Main Objective | Promote electric vehicles |
| Total Budget | ₹10,900 crore |
| Scheme Validity | Only Two years |
| Category | Yojana / Scheme |
| Official Website | pmindia.gov.in |
Key Features of PM E-Drive Scheme
Focus on Electric Buses – The scheme’s primary focus is on electric buses, with an aim to boost public transport and promote sustainable mobility solutions. A total of 14,028 electric buses will be deployed across nine major cities in India, with demand aggregated by Convergence Energy Solutions Ltd. (CESL), a state-run company.
Under the scheme, public transport buses will receive a ₹10,000 subsidy per kilowatt-hour (kWh) of battery capacity, totaling ₹4,391 crore in subsidies for electric buses. This is the largest allocation within the scheme, reflecting the government’s intent to reduce carbon emissions from public transportation.
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Charging Infrastructure Development – The government has prioritized the development of charging infrastructure across cities and highways. The key installations planned under the scheme include:
- For four-wheelers – 22,100 fast chargers.
- For electric buses – 1,800 fast chargers.
- For two-wheelers and three-wheelers -48,400 fast chargers. Additionally, approximately 200 public electric charging stations will be built in selected cities with a high penetration of EVs, along with some on highways.
Promotion of Various EVs – The PM E-Drive Scheme is designed to promote a wide range of electric vehicles, including two-wheelers, three-wheelers, electric buses, and electric ambulances. This will contribute significantly to reducing carbon emissions, promoting environmental sustainability, and encouraging more eco-friendly transportation options.
Transition from FAME to PM E-Drive – The scheme marks the transition from the FAME hybrid vehicle policy to a more focused push on fully electric vehicles. The government has officially phased out subsidies for hybrid vehicles and is now concentrating efforts solely on electric mobility.
E-Drive Scheme 2024 Subsidy Benefits
The PM E-Drive Scheme offers demand incentives to make EVs more affordable for consumers and accelerate adoption. Here’s how the subsidy benefits are structured:
- Electric Buses – ₹10,000 subsidy per kWh of battery capacity.
- Electric Cars and Other Vehicles – Although the scheme no longer offers subsidies for hybrid cars, electric two-wheelers, three-wheelers, and other vehicles are still eligible for financial incentives.
- Charging Infrastructure – Government support for fast chargers ensures that EV owners will have easy access to charging points, making electric mobility more practical and convenient.
e-Vouchers for EV Buyers Online Process
To simplify the subsidy claim process, the Ministry of Heavy Industries (MHI) has introduced e-vouchers for EV buyers. This digital mechanism ensures that subsidies are claimed smoothly and efficiently.
- When an individual purchases an electric vehicle, the scheme portal will generate an Aadhaar-authenticated e-voucher, which will be sent to the buyer’s registered mobile number.
- The buyer will sign the e-voucher and submit it to the dealer, who will upload the signed voucher on the PM E-Drive portal.
- The dealer and buyer will both receive the signed e-voucher via SMS, enabling them to track the subsidy claim process.
- The dealer will then claim the demand incentive from the government using the signed e-voucher.
This digital system ensures transparency and simplifies the subsidy claim process, benefiting both consumers and dealers.
How to Apply for PM E-Drive Subsidy
Interested individuals or public transport agencies looking to avail subsidies under the PM E-Drive Scheme can follow these steps:
- Ensure the vehicle is eligible for the subsidy by checking the PM E-Drive portal.
- Once the purchase is made, the scheme portal will generate an Aadhaar-authenticated e-voucher.
- The signed e-voucher should be submitted to the dealer.
- The dealer will upload the voucher, and both parties will receive an SMS to track the claim process.
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FAQ’s – Read All Question
What is the PM E-Drive Scheme 2024?
The PM E-Drive Scheme 2024 is an initiative by the Government of India to promote the adoption of electric vehicles (EVs), especially two-wheelers, across the country. It is part of the larger effort to reduce carbon emissions and make India a leader in the global EV ecosystem.
How much is the budget for the PM E-Drive Scheme?
The scheme has a total budget of ₹10,900 crore and will focus on providing subsidies for electric vehicles, particularly two-wheelers and electric buses.
What is the subsidy provided for electric two-wheelers?
The PM E-Drive Scheme provides a subsidy of ₹10,000 for two-wheelers in the EV segment, making them more affordable for consumers.
Who can benefit from the PM E-Drive Scheme?
The scheme is available to individuals purchasing electric two-wheelers and public transport agencies looking to buy electric buses. Additionally, it promotes the use of electric vehicles across various segments, including three-wheelers, electric cars, and electric ambulances.