- By Aditya Pratap Singh
- Mon, 14 Oct 2024 03:20 PM (IST)
- Source:JND
PM E-Drive: The accelerated EV adoption is poised for continued growth and India is making significant strides contrary to other world economies. The adoption goes beyond addressing crucial emission concerns. One of the critical reasons is to reduce overall reliance on fossil fuels to mitigate climate change, while also fostering self-reliance capabilities.
As part of India’s rapid transition towards EV adoption, the government has also announced schemes to reduce the use of petrol and diesel vehicles. Recently, the centre has launched an EV subsidy - the PM E-DRIVE scheme, outlaying a budget of Rs. 10,900 Cr. The scheme aims to boost the adoption of sustainable mobility in India across categories including electric two-wheelers (e-2Ws), three-wheelers (e-3Ws), e-ambulances, e-trucks, e-buses and many others.
Optimistic about the scheme, BY Abhinav Kalia, CEO and Co-Founder of ARC Electric said, “The initiative is pivotal in advancing India’s ambitions to lead the global electric vehicle market. By offering substantial incentives to both consumers and manufacturers, it creates a robust ecosystem for the widespread adoption of EVs across various sectors. The scheme not only reduces the upfront cost of EVs through subsidies for two-wheelers, three-wheelers, and buses, but it also promotes local manufacturing, fostering innovation and job creation.”
With an increased focus on promoting green mobility in the country, the scheme focuses on certain key components such as the introduction of e-vouchers, authenticated through Aadhaar to systematise the availability and reimbursement of demand initiatives, making it accessible for EV buyers, deals and OEMs.
“The introduction of e-vouchers has simplified the buying process, ensuring easier access to demand incentives. With such comprehensive support, PM-e-Drive is not just driving the EV revolution in India but positioning the country as a frontrunner in sustainable transportation on a global scale,” Abhinav added.
As part of the scheme, the PM E Drive addresses the range anxiety of the e-vehicle, with the installation of 72,300 fast-charging stations. This will play a crucial role in infrastructure development by alleviating concerns related to range of the vehicle.
Highlighting the initiative’s impact, Rajeev YSR, CEO of Thunder Plus, Group CMO - ETO Motors said, “At ETO Motors & Thunder Plus, we are excited about the immense possibilities this opens up for us to push the boundaries of innovation in electric three-wheelers and buses. The demand incentives will allow us to scale faster, our vertically integrated charging stations that can fast charge all forms of vehicles from 2 wheelers to buses under one roof thus removing the charge anxiety completely from the Indian EV Ecosystem.”
The PM E-Drive Scheme is a game-changer for India's electric mobility revolution. By targeting electric two-wheelers, three-wheelers, and buses, this initiative is set to transform the largest and most essential segments of the country’s public transport and commercial sectors. While electric cars may be excluded from direct subsidies, the scheme’s focus on expanding charging infrastructure and upgrading testing capabilities is set to drive widespread adoption of EVs across the nation.
