Cabinet approves ₹10,900 crore for EV push

The Union Cabinet on Wednesday approved a scheme with an outlay of ₹10,900 crore to provide for procurement of e-buses as well as for setting up more than 72,000 charging stations for vehicle batteries in cities and highways to address ‘range anxiety’ among buyers.

The PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E DRIVE) scheme is valid for two years.

According to a press statement from the Ministry of Heavy Industries, the scheme also offers subsidies or demand incentives worth ₹3,679 crore for e-two wheelers (e-2Ws), e-three wheelers (e-3Ws), e-ambulances, and e-trucks to buyers. The scheme will support 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, the Ministry added.