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Karnataka to receive e-buses under PM E-Drive: HD Kumaraswamy

YourStory

YourStory · 3m ago

Karnataka to receive e-buses under PM E-Drive: HD Kumaraswamy

Karnataka is set to receive electric buses under the Centre's PM E-Drive Scheme. Union Heavy Industries Minister HD Kumaraswamy confirmed the allocation in phases, following the state's formal proposal. Karnataka Transport Minister Ramalinga Reddy requested the buses to enhance urban public transport. The initiative, part of a nationwide effort, allocates over 14,000 buses with a budget of ₹10,900 crore, focusing also on supporting infrastructure. Discussions are ongoing for efficient implementation across cities.

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Govt launches scheme to incentivise electric trucks by up to Rs 9.6 lakh under PM E-DRIVE

Economic Times

Economic Times · 1m ago

Govt launches scheme to incentivise electric trucks by up to Rs 9.6 lakh under PM E-DRIVE

Union Minister for Heavy Industries, HD Kumaraswamy, announced a new scheme incentivizing electric trucks under the PM E-DRIVE initiative. It aims to reduce vehicular emissions and support India's net-zero 2070 goals with a financial outlay of Rs 10,900 crore. Incentives up to Rs 9.6 lakh per vehicle will promote the purchase of e-trucks, targeting the deployment of 5,600 trucks. It's a significant step for sustainable freight mobility benefiting sectors like cement, steel, logistics, and ports.

H D Kumaraswamy tells automakers to follow PM E-DRIVE norms

Money Control

Money Control · 10m ago

H D Kumaraswamy tells automakers to follow PM E-DRIVE norms

Union Minister H.D. Kumaraswamy has urged automakers to adhere to the guidelines of the new PM E-DRIVE scheme, which provides incentives for electric vehicle production. This comes after controversy surrounding the FAME-II scheme, where some companies were accused of violating regulations to receive fiscal incentives. The government recently launched the PM E-DRIVE scheme with an outlay of Rs 10,900 crore to accelerate EV adoption and develop the EV manufacturing ecosystem in India. The scheme will be implemented from October 2024 to March 2026 and will replace the EMPS-2024 scheme.

Govt Extends PM E-Drive Scheme Till 2028

Inc42 · 10d ago

Govt Extends PM E-Drive Scheme Till 2028

The Ministry of Heavy Industries has extended the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme until 2028. This extension specifically benefits e-trucks, e-buses, and testing agencies due to challenges like high initial costs, inadequate charging infrastructure, range anxiety, slow charging, and the need for advanced skills in operation and maintenance. The scheme, launched in 2024, will see registered e-2W, e-rickshaws, and e-cart vehicles deadline extended until March 2026.

PM e-drive scheme to aid in faster adoption of EVs: M&M, Tata Motors

YourStory

YourStory · 11m ago

PM e-drive scheme to aid in faster adoption of EVs: M&M, Tata Motors

Indian automakers Mahindra & Mahindra and Tata Motors have praised the PM e-drive scheme, a project aimed at promoting the adoption of electric vehicles (EVs) in India. With a total budget of INR 14,335 crore, the scheme includes the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme. Both companies believe that the scheme will boost EV penetration in the country and accelerate India's transition to zero-emission mobility. The scheme offers subsidies and incentives for various EV categories, including electric two-wheelers, three-wheelers, ambulances, trucks, and buses.

Karnataka seeks Centre's support for semiconductor investments akin to Gujarat

Economic Times

Economic Times · 1y ago

Karnataka seeks Centre's support for semiconductor investments akin to Gujarat

Industries & Infrastructure Minister MB Patil is seeking similar support for semiconductor investments in Karnataka as Gujarat has received for Micron Technology's project. Micron, a US chipmaker, has pledged a $2.75 billion investment to set up a plant in Gujarat, receiving a 50% subsidy from the central government and 20% incentives from the state government. Patil plans to meet with Heavy Industries Minister HD Kumaraswamy to request equal treatment for Karnataka. IT/BT Minister Priyank Kharge had downplayed Micron's investment, questioning the level of investment coming from Gujarat.

Amid China's export curbs, India plans Rs 1,345 crore rare earth magnet incentive scheme

Economic Times

Economic Times · 1m ago

Amid China's export curbs, India plans Rs 1,345 crore rare earth magnet incentive scheme

India plans a ₹1,345-crore incentive scheme to boost domestic production of rare earth magnets, vital for electric vehicles and electronics, to lessen dependence on Chinese imports amidst China's export restrictions. The government has allocated funds and initiated interministerial consultations, according to Union Heavy Industries Minister H D Kumaraswamy. Additionally, the government is promoting an electric trucks subsidy scheme under PM E-Drive, offering up to ₹9.6 lakh per truck to curb diesel vehicle emissions, supporting around 5,600 e-trucks nationwide.

In Electrification Push, PM E-DRIVE Likely To Fuel Local Manufacturing In Phased Manner: Report

Inc42 · 11m ago

In Electrification Push, PM E-DRIVE Likely To Fuel Local Manufacturing In Phased Manner: Report

The PM E-DRIVE Scheme, approved by the union cabinet, will include a phased manufacturing programme (PMP) to promote local manufacturing of electric vehicle (EV) components. Electric vehicle manufacturers that source components locally will receive financial support under the scheme, without any domestic value addition requirement. However, the financial aid for electric two-wheelers will be reduced to INR 5,000 per vehicle from 2025-26, while the subsidy for large electric three-wheelers will be capped at INR 25,000 per vehicle.

PM E-DRIVE Push: Centre Mulls New Chart To Subsidise Charging Units For Two & Three Wheelers

Inc42 · 10m ago

PM E-DRIVE Push: Centre Mulls New Chart To Subsidise Charging Units For Two & Three Wheelers

- The government plans to install 48,400 charging stations for two and three-wheelers. - The cost of back-end infrastructure development will be subsidized by up to 80% under the PM E-DRIVE scheme. - The PM E-DRIVE scheme will replace the FAME scheme and has a budget of INR 10,900 Cr for two years. - The charging stations will aim to support the growing demand for electric vehicles in the country. - The government aims to boost the adoption of electric two and three-wheelers through this initiative. - The subsidy under the PM E-DRIVE scheme will help reduce the cost of setting up charging infrastructure.

Cabinet approves “PM-eBus Sewa”scheme to deploy 10,000 electric buses across cities

IndianStartupNews

IndianStartupNews · 2y ago

Cabinet approves “PM-eBus Sewa”scheme to deploy 10,000 electric buses across cities

The Union Cabinet has approved the "PM-eBus Sewa" scheme, aiming to add 10,000 electric buses to city transportation through a public-private partnership. With an estimated cost of Rs. 57,613 crore, the scheme receives Rs. 20,000 crore central government support, operating for a decade. Prioritizing cities with populations over 3 lakh, it creates jobs and promotes green mobility, encompassing e-buses and related infrastructure.

Cabinet Approves PSM Scheme With INR 3,435 Cr Outlay To Promote Adoption Of Ebuses

Inc42 · 11m ago

Cabinet Approves PSM Scheme With INR 3,435 Cr Outlay To Promote Adoption Of Ebuses

The government has introduced a new scheme to promote electric buses in India. The scheme aims to deploy more than 38,000 electric buses over a five-year period from 2025 to 2029. The government will provide support for the operation of these buses for up to 12 years. In addition to this scheme, the government has also approved the FAME-III scheme, now called the PM E-DRIVE scheme, to promote electric vehicles in the country.

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