The new Indian government program for electric mobility
The Indian government recently launched the “PM Electric Drive Revolution In Innovative Vehicle Enhancement” (PM E-DRIVE) program to promote electric vehicles. With a budget of 109 billion rupees (nearly 1.3 billion euros), this plan focuses on motorcycles, scooters, and two- and three-wheeled utility vehicles.
Program Objectives
The initiative aims to transform the Indian vehicle fleet, particularly to compensate for the decline in electric two-wheeler sales earlier this year. The program plans to fund 2.48 million electric two-wheelers and 316,000 electric three-wheelers.
Support for Public Transport
An amount of 43.91 billion rupees will be reserved for the acquisition of 14,028 electric buses in nine major cities such as Delhi, Mumbai, Kolkata, Chennai, and Bangalore.
Development of Charging Infrastructure
The project also includes the installation of 88,500 charging stations for electric vehicles, including 22,100 fast-charging stations for cars, 1,800 stations for buses, and 48,400 stations for two-wheelers and three-wheelers. The budget for this infrastructure reaches two billion rupees.
The “PM-eBus Sewa-Payment Security Mechanism” Program
At the same time, India also approved the “PM-eBus Sewa-Payment Security Mechanism” plan, with a budget of 34.35 million rupees (approximately 371.5 million euros). This program aims to fund more than 38,000 electric buses by 2028/2029.
Exclusions from the Program
Electric cars, which were previously supported by the FAME program, are no longer subsidized under this new initiative. Hybrid vehicles are also excluded from current incentives.
