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The minister said the Ministry of Heavy Industries will soon introduce e-vouchers for electric vehicle (EV) buyers to avail of incentives under the newly approved PM E-DRIVE (PM Electric Drive Revolution in Innovative Vehicle Enhancement) scheme.
“We are ramping up (EV) charging infrastructure fast,” he said, while speaking at the Ficci and Ministry of Heavy Industries’ Seminar on ‘FAME’s Success in Transforming India’s EV Landscape’.
The government has plans to install 10,763 public charging stations across the country under the FAME-II scheme, he said.
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“This is a unique new feature of this new scheme,” Kumaraswamy said, adding, “The modalities of this are in an advanced stage and will be shared with you soon.” The PM E-DRIVE scheme, unveiled by the Union Cabinet last week, aims to accelerate EV adoption through substantial upfront incentives and the development of crucial charging infrastructure.
“Our goal is to reduce our environmental footprint, improve air quality and build a competitive and resilient electric vehicle manufacturing industry,” Kumaraswamy said.
The new PM E-DRIVE scheme introduces several novel elements, including a dedicated fund of Rs 500 crore to deploy e-ambulances, an allocation of Rs 500 crore to incentivise the adoption of electric trucks, and Rs 2,000 crore for installing 22,000 fast chargers for electric four-wheelers, 1,800 for e-buses, and 48,400 for e-two and three-wheelers.
On the success of FAME II, Kumaraswamy said about 92 per cent of the allocated Rs 11,500 crore under the scheme has been utilised. The scheme has also made significant strides in public transportation, with 4,853 e-buses supplied out of the 6,862 sanctioned for intra-city operations as of July 31, 2024.
Kamran Rizvi, Secretary, Union Ministry of Heavy Industries, said, “With the PM E-DRIVE coming, the Phased Manufacturing Programme, the domestic value addition targets will be tweaked and amended so as to take advantage of our increased capability, and so that we become a truly a world leader in electric mobility technology.” Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, said more than 92 per cent of the target under the FAME II scheme has already been achieved.
Ficci President and Group CEO & MD, Mahindra Group, Dr Anish Shah, underlined FAME II as among the most transformative policies in India.
“Now, the industry has gone from zero (3 years ago) to 20 per cent, and we expect this to reach 100 per cent in the next five years,” he added.