Why In the News?

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has approved the PM E-DRIVE Scheme for promotion of electric mobility in the country.

About PM E DRIVE

Implementing Agency: Ministry of Heavy Industries
Replaced: Faster Adoption and Manufacturing of Electric Vehicles in India Phase II
(FAME India Phase II).

Components of scheme

Subsidies/Demand incentives: Worth Rs.3,679 crore, to incentivize e-2Ws, e-3Ws, e-ambulances, e-trucks and other emerging EVs.
e-voucher
e-voucher will be signed by the buyer and submitted to the dealer to avail demand incentives under the scheme.
Thereafter, the e-Voucher will also be signed by the dealer and uploaded on the PM E-DRIVE portal.
The signed e-voucher shall be sent to the buyer and dealer through an SMS.
The signed e-voucher will be essential for OEM to claim reimbursement of demand incentives under the scheme.