PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)

✦Key Features

• Budget: ₹10,900 crore (2024-2028 after extension); replaces FAME I, FAME II, EMPS 2024
• Demand incentives for e-2W, e-3W (cargo and passenger), e-ambulances, e-trucks, e-buses
• ₹2,000 crore for public EV charging station infrastructure across India
• ₹780 crore for upgradation of vehicle testing and certification agencies
• E-Voucher digital system: beneficiaries get voucher to claim incentive at point of sale
• E-truck incentive requires scrapping certificate from MoRTH-approved RVSF
• Successor scheme: FAME I (2015-2019) → FAME II (2019-2024) → EMPS 2024 → PM E-DRIVE

✓Eligibility Criteria

• Buyers of electric two-wheelers, electric three-wheelers, and electric trucks are eligible for demand incentives.
• State Transport Undertakings (STUs) and public transport agencies procuring electric buses for urban transit.
• Original Equipment Manufacturers (OEMs) who have registered their vehicle models with the Ministry of Heavy Industries.
• Private and public entities interested in setting up electric vehicle charging infrastructure across the country.

★Benefits

• Provides substantial upfront price reductions for electric vehicles to make them affordable for the general public.
• Allocates financial support for the deployment of over 14,000 electric buses in major Indian cities.
• Funds the installation of a widespread network of public charging stations to address range anxiety among EV users.
• Promotes domestic manufacturing and reduces the environmental impact of vehicular emissions and fossil fuel imports.

▶Application Process

• The buyer purchases an eligible electric vehicle from an authorized dealer at a price inclusive of the scheme discount.
• The dealer submits the Aadhaar-authenticated sale details on the PM E-DRIVE portal for subsidy processing.
• The Ministry of Heavy Industries verifies the claim and reimburses the subsidy amount directly to the OEM.
• Public transport agencies apply through a competitive bidding process for the allocation of e-bus subsidies.

₹ Budget Allocation

10900

Funding Ratio (Centre:State): Central Sector Scheme (100% Central Funding)

Historical Context

Approved in September 2024 to replace the FAME-II scheme and the interim EMPS 2024, reflecting India's Net Zero 2070 commitments.