Modi govt approves Rs 10,900 cr PM E-Drive Scheme to boost mobility of EVs: Know key facets and other details

The Union Cabinet has approved the PM Electric-Drive (E-Drive) Scheme with a budget of Rs 10,900 crore for the next two years. This new initiative aims to accelerate the adoption of electric vehicles (EVs) across India, replacing the flagship Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) programme that was in place for nine years until March. Information and Broadcasting Minister Ashwini Vaishnaw announced the decision, outlining the government's commitment to promoting sustainable and innovative transportation solutions. The PM E-Drive scheme is expected to provide significant incentives and support to the EV industry, driving growth and reducing the nation's carbon footprint.