New Delhi: The government is expected to approve a ₹The Rs 10,900-crore electric vehicle (EV) demand incentive scheme, which marks the third phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) policy, two people with direct knowledge of the matter told Xinhua news agency. Mint.
The new plan, to be announced at a Cabinet briefing on Wednesday, is expected to focus on boosting the adoption of electric buses, trucks and two- and three-wheelers, as well as improving charging infrastructure across the country.
The plan, which is expected to be called PM e-drive, will allocate between ₹4.300 crore rupees and ₹4,400 crore to incentivise electric buses, including intercity models, making it the largest segment of the subsidy outlay.
In addition, about ₹Rs 500 crore is expected to be earmarked for electric trucks and cars, potentially including electric ambulances and police vans, to scale up adoption of electric vehicles in critical service sectors. The government has been on the fence about including electric cars in the FAME-III scheme, but Tata Motors, the country’s largest electric car maker, has been lobbying the Prime Minister’s Office to include the electric taxi segment in the scheme.
The development of charging infrastructure is expected to receive a substantial boost. ₹An increase of between Rs 1,000 and Rs 1,200 crore, which addresses one of the major hurdles in the implementation of electric vehicles. Mint had reported in July that this investment in infrastructure is essential to support growth Electric Vehicle Ecosystemand could receive up to ₹The plan involves an investment of Rs 2,000 crore.
In addition to subsidies, the government is also expected to announce a payment security mechanism for electric buses, which will reduce financial risks for bus operators and promote the electrification of public transport networks.
The new scheme will replace the existing Electric Mobility Pilot Scheme (EMPS), signalling the government’s sustained focus on achieving its clean energy goals through wider adoption of electric vehicles.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.