Staff Writer
New Delhi: Auto industry players have hailed the Cabinet decision of PM-E Drive schemes aimed at promoting electric mobility across the country. The scheme targets support for 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and ambulances. It has drawn interest from companies like Tata Motors, JBM Auto, and PMI Electromobility.
The Union Cabinet approved two schemes — 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.
Mr. Girish 
Wagh, Executive Director, Tata Motors said, “We welcome the announcement of PM E-DRIVE scheme, as it will accelerate India’s journey towards zero-emission mobility with greater speed and rigor, especially in Trucks, Buses and the Ambulance segment. We continue to collaborate with the Government and other stakeholders in this nation building endeavour towards sustainable transportation.”
Mr. Vinod Aggarwal, MD & CEO, VECV said, “We welcome the PM E-DRIVE scheme as a significant step in further accelerating India’s journey towards adoption of electric vehicles. This scheme will incentivize customers to adopt environment friendly electric two-wheelers, three-wheelers, trucks, buses and ambulances. The scheme also addresses the charging infrastructure by supporting 88,500 electric vehicle chargers across the country.
With meaningful outlay of 10,900 Cr, the PM E-DRIVE program reflects our government’s resolve to fast-track adoption of electric mobility and encourages industry to step up R&D, manufacturing and commercialization of clean EV technology.
The payment security mechanism scheme announced for PM E-Bus Sewa will facilitate Public Transport Authorities to acquire 38,000 e-buses over the next 5 years.”
Nishant Arya, Vice Chairman & Managing Director, JBM Auto Ltd, welcome the Government’s announcement of the PM E-drive scheme, with an outlay of Rs 10,900 crore over 2 years. With subsidies of over Rs 3,679 crore to incentivize EVs, this new programme will support 24.79 lakh electric two-wheelers, 3.16 lakh electric three-wheelers and ambulances. We also welcome the allocation of Rs. 4391 cr for procurement of over 14,000 e-buses.
Heartening to see that over 40% allocation has been announced for electric buses. The PM E-drive scheme is holistic in nature and shall herald a transformative growth in the EV sector towards the government’s mission of decarbonisation, zero emission and clean mobility. This shift will further foster end-to-end technological advancement in vehicle, battery and charging technology, thereby, developing the complete EV ecosystem indigenously. This has been aptly addressed in the new scheme by provisioning 22000 chargers and 1800 fast chargers for e-buses.
Further, Rs 3,435cr towards Payment security mechanism will provide the much awaited impetus to OEMs and will act as a cornerstone to establish the electric bus sector and attracting substantial global investors. It is a momentous announcement towards making India the EV capital of the world and auto sector playing a pivotal role in realising India’s net zero 2070 targets. We are confident that this policy will reinforce India’s leadership in driving the global shift towards clean and sustainable mobility.
Dr. Aanchal Jain, CEO, PMI Electro Mobility, Dr. Aanchal Jain, CEO of PMI Electro Mobility, is also optimistic, stating that the policy will promote electric trucks and expand the e-bus ecosystem, including enhancing intracity connectivity in Tier 2 and Tier 3 cities across the country.
She believes that the announcement of PM E-Drive is a significant and much-anticipated step forward for our industry. The policy addresses key expectations that were highlighted in the previous policy and provides the necessary stimulus to make the e-bus sector more competitive and sustainable with 14,028 eBuses. The Government’s allocation of Rs. 4,391 crore to further expand e-bus adoption across the country is a welcome move that will greatly benefit the entire e-bus ecosystem. We further welcome the support extended to electric trucks and electric ambulances as well. The decision to install 88,000 charging sites will further support intracity connectivity, which will include Tier-2 and Tier-3 cities across the country.
We deeply appreciate the Government’s continued efforts in creating vast opportunities for industry growth and generating additional employment within the sector including STUs. These initiatives will undoubtedly help accelerate the transition to green mobility and contribute towards realizing our Honorable Prime Minister Shri Narendra Modi’s vision of a net-zero India by 2070. With PM E-Drive the future of electric mobility in India looks brighter than ever, and we are excited to be a part of this transformative journey.